Two Pakistani-Canadians arrested over C$1.1-m fraud: Canadian media

TORONTO: Two Pakistani-Canadians were arrested Wednesday over alleged fraudulent borrowing of over C$1 million in Canada, Geo News reported citing police sources.

The arrestees — identified as Wajid Ali Khan, a former Member of the Canadian House of Commons and Nadeem Imtiaz Ahmed — were charged by the Royal Canadian Mounted Police (RCMP) with the fraudulent borrowing of more than C$1.1 million, the country's media reported.

Khan, 71, faces seven charges, whereas Ahmed faces five. Both are residents of Ontario's Mississauga area.

According to the RCMP's website, its National Division's Sensitive and International Investigations unit charged Khan with three counts of False Pretence (Section 362 CC), three counts of Fraud (Section 380 CC), and one count of uttering a forged document (Section 368 CC).

On the other hand, the unit charged Ahmed with two counts of False Pretence (Section 362 CC), two counts of Fraud (Section 380 CC), and one count of uttering a forged document (Section 368 CC).

The website added: "As with any financial crime investigation, additional charges may be laid if more victims come forward."

The fraud first came to notice when the arrestees' victims claimed the "two men fraudulently borrowed more than $1.1 million from their personal contacts in Canada, telling their victims they were using the money to purchase investment properties on their behalf in Pakistan".

The consequent investigation, under which Khan and Ahmed have been arrested and charged, is formally known as Project Alcazar and commenced back in January 2015.