A 52-year-old Waterloo man is accused of defrauding 14 businesses out of $3.7 million.

Waterloo Regional Police say the man ran an investment firm from 2006 to 2014.

During that time, they allege, the man sold securities at inflated prices – and redirected some of the money from where his clients believed it was going.

According to police, victims have been identified in both Canada and the United States. Police also allege that the man's company was never registered with the Ontario Securities Commission.

Police say they want to hear from anyone who has had dealings with Constantinos Mathios, who lives in Waterloo and has ties to Brantford, or CJC Investments.

Mathios is facing charges including fraud, theft and money laundering.