Toronto Man Faces Charges in $2.5M Investment Scam, Impacting Multiple Victims
A Toronto man faces charges linked to a $2.5 million investment scam affecting multiple victims. The York Regional Police (YRP) have revealed troubling details about this case.
Investigation Overview
The investigation into the alleged fraud began in March 2025. A victim reported significant financial losses related to an investment scheme.
- Date of Victim Report: March 2025
- Initial Investment Date: February 2024
Victims had invested money through a local businessman, who operated under the name Equity Line Service Corporation. He promised returns that never materialized.
Discovery of Additional Victims
In February 2025, investigators uncovered that five more individuals had also fallen prey to the same scam. Collectively, they lost over $2.5 million.
- Total Amount Misappropriated: Over $2.5 million
- Additional Victims Identified: At least five
Charges and Arrest
Police arrested 40-year-old Sergiy Shchavyelyev of Toronto on December 9, 2025. He faces six counts of fraud over $5,000 following a comprehensive investigation.
Call for Public Assistance
YRP has released a photograph of Shchavyelyev in hopes of locating more victims. Authorities encourage anyone with information to reach out to their investigators.
This case serves as a grave reminder of the risks involved in investment opportunities. Victims are urged to exercise caution and conduct thorough research before investing their money.
