Durham Regional Police have issued an arrest warrant for a 35-year-old Brampton man accused of defrauding an investor of more than $200,000 through a trucking start-up pitch.
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Durham Regional Police have issued an arrest warrant for Sahil Thakur, 35, of Brampton, Ontario, who is accused of persuading an investor to transfer more than $200,000 into a trucking and transportation start-up. Police say the business opportunity was supported by promises of a pending $1-million loan and transportation contracts that did not exist.
The investigation by the Durham Regional Police Service (DRPS) Financial Crimes Unit began in late January, after the investor reported concerns to police.
Police allege the investor believed they were buying into a legitimate trucking and transportation operation that was about to expand rapidly. Investigators say the accused claimed to have several service contracts already lined up with major companies and to be close to securing a large commercial loan to finance the business.
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To support those claims, detectives say the accused allegedly provided what appeared to be formal contracts, loan confirmation documents and banking contacts. Police say the business agreements and documents were fabricated and the banking contacts were fake.
Relying on that material, the investor allegedly transferred more than $200,000, described to them as start-up costs needed to launch the business and prepare for the incoming contracts.
After reviewing the documents and contacting the supposed financial and business partners, investigators concluded that no valid loan had been approved and that the transportation contracts described in the pitch did not exist.
Police have not released details about where any meetings took place or whether any companies were formally registered in connection with the alleged scheme. The complainant's identity has not been released.
Thakur is wanted on a warrant for the following offences:
The charges have not been proven in court. Authorities have not disclosed any additional alleged victims.
The DRPS Financial Crimes Unit is asking to hear from anyone who may have invested with, loaned money to, or been approached by someone using a similar trucking or transportation start-up pitch. Police encourage anyone who believes they may have had dealings with Sahil Thakur, or who recognizes a similar investment approach, to contact Durham Regional Police investigators or Crime Stoppers. Police note that information is useful even if no money was lost.
This case was first reported by CityNews.
This article is based on the official statement linked below. Charges are allegations; everyone is presumed innocent until proven guilty in court.
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