Man allegedly posed as investment broker, contractor to defraud victims: Toronto police

Georgios Sakellaris,, 42, of Toronto, is seen in this photo released by Toronto police. (Toronto Police Service handout)

Toronto police say an arrest has been made after a man allegedly posed as both an investment broker and contractor to defraud multiple victims.

According to police, between January 2022 and September 2022, a man posing as an investment broker convinced victims to invest money, promising “large returns.”

“The man would then advise the victims that he lost their investments, and they would have to sue him to obtain their investments,” police said in a news release issued Tuesday.

Police also allege that between November 2024 and January 2024, the same suspect posed as a contractor and told victims that he could “repair their roof for a discount.”

“The man would obtain a deposit, and then never begin the work,” police said.

The suspect, identified by police as Georgios Sakellaris, 42, of Toronto, has been charged with six counts of fraud over $5,000, six counts of possession of property obtained by crime over $5,000, six counts of laundering proceeds of Canadian currency, and three counts of fraud under $5,000.

“Residents are reminded to use caution when solicited for any service and not to share personal information with people unknown to them,” the news release continued.

“Suspects often target elderly and vulnerable citizens using high-pressure tactics to commence work immediately. They usually demand payment in the form of cash or bank draft.”

Investigators said they believe there may be more victims and an image of the suspect has now been released.