Who is Navdeep Boparai? Indian-origin man arrested in Canada over Ponzi-style investment fraud

The accused has been identified as 62-year-old Navdeep Boparai.

According to the Peel Regional Police Fraud Bureau, the alleged fraud began in 2017, when multiple victims invested funds with Boparai and his company, BLM Canada Corporation, believing him to be a successful mortgage broker.

Police said investors were assured that their money would be placed in private mortgages, a condominium development project, and a legal trust, with guaranteed returns.

While some investors initially received payments, investigators allege that the returns were not generated through legitimate investments. Instead, they were allegedly funded using money from new investors in a Ponzi-style arrangement to maintain the appearance of profits.

Total reported losses are estimated at approximately $1.465 million.

Boparai, a resident of Brampton, was arrested on May 26 and has been charged with multiple offences, including two counts of fraud over $5,000, two counts of possession of property obtained by crime, and two counts of laundering proceeds of crime.

Police said the investigation is ongoing and believe there may be additional victims. They have urged anyone affected who has not yet come forward to contact investigators.