Toronto police have arrested a 50‑year‑old Markham man accused of posing as a private investor and defrauding multiple people out of thousands of dollars through a bogus investment operation.The investigation began on Aug. 12, 2024, when officers launched a probe into a reported fraud of over $5,000. Detectives allege the suspect presented himself as an investor operating under the company name 10000272 Canada Inc. Norstar Financial Security, convincing victims to hand over money in exchange for promises of lucrative returns.According to police, victims were told their investments would generate profits and that the suspect was using those returns to purchase vacant land. Investigators say none of the promised returns materialized, and the documents provided to investors were later determined to be falsified.After a lengthy investigation, officers arrested Neilay Modi, 50, of Markham, on March 3, 2026. He is charged with four counts of fraud over $5,000, four counts of possession of proceeds obtained by crime and three counts of forgery.Police say the alleged scheme may have impacted additional victims and have released an image of the accused in hopes of identifying others who may have had similar dealings.Modi is scheduled to appear in court on May 14, 2026.Investigators are urging anyone with information or who believes they may have been defrauded to contact Toronto police.