by Wiseguy » Thu Sep 21, 2017 9:41 pm
12 arrested in $11M fraud investigation
Toronto police say the accused had been fraudulently obtaining cash from leasing companies.
By PETER EDWARDS. Staff Reporter
Sept. 20, 2017
A routine traffic stop led Toronto police to a multi-national organized crime investigation that has resulted in charges against a dozen people, including long-time Vaughan resident Cosimo Commisso.
Commisso, 72, is charged with possession of proceeds of crime following “Project Briscola,” which drew together investigators from Canada, the United States and Australia, Toronto police Insp. Peter Callaghan told a news conference Wednesday.
“Think of it as building a large puzzle whose pieces are scattered all over the world,” Callaghan said.
The investigation began in August 2015 when Giuseppe Gatti, 48, of Ajax, was arrested on a charge of impaired driving. The arresting officers alleged Gatti was carrying $10,000 in cash, as well as credit cards in a number of different names.
“None of this would have come to light if it weren’t for an impaired driving arrest,” Callaghan said.
Police say the investigation led them to a scheme in which lenders were defrauded of $11 million by individuals who falsely presented themselves as officers of a business that was seeking to expand by borrowing money to invest in heavy equipment.
That equipment was allegedly “undervalued or never leased at all” through a series of shell companies.
Investigators eventually tracked the payments to an account under Commisso’s name, which “did not initially come up in this investigation,” Callaghan said.
Commisso served prison time in the 1980s for convictions including two counts of counselling to commit murder and uttering a death threat.
Callaghan didn’t expand on allegations against Commisso, but said “we’re not alleging that he had a directing role” in the scheme, which allegedly saw money flow across Canada into Brazil and the Seychelles
Charged with fraud over $5,000 and participation in a criminal organization are Gatti; Faisal Iqbal Qureshi, 42, of Richmond Hill; Tarragh Bracken, 47, of Whitby; Darrell Shulman, 49, of Thornhill: Mary Sophie Kaloczi, 35, of Georgetown; Maurizio Adiletta, 53, of Brampton; and Pino “Frank” Guido, 53, of Kleinburg.
Charged with fraud over $5,000 are Eric Thomas, 57, of Mississauga; Sanjeev Mannan, 48, of Locust Hill; Laura Tolosa, 37, of Toronto; and Ravinder Bedi, 54, of Brampton.
The accused are all scheduled to appear in a Toronto court on Oct. 26.
https://www.thestar.com/news/crime/2017 ... ation.html12 arrested in $11M fraud investigation
Toronto police say the accused had been fraudulently obtaining cash from leasing companies.
By PETER EDWARDS. Staff Reporter
Sept. 20, 2017
A routine traffic stop led Toronto police to a multi-national organized crime investigation that has resulted in charges against a dozen people, including long-time Vaughan resident Cosimo Commisso.
Commisso, 72, is charged with possession of proceeds of crime following “Project Briscola,” which drew together investigators from Canada, the United States and Australia, Toronto police Insp. Peter Callaghan told a news conference Wednesday.
“Think of it as building a large puzzle whose pieces are scattered all over the world,” Callaghan said.
The investigation began in August 2015 when Giuseppe Gatti, 48, of Ajax, was arrested on a charge of impaired driving. The arresting officers alleged Gatti was carrying $10,000 in cash, as well as credit cards in a number of different names.
“None of this would have come to light if it weren’t for an impaired driving arrest,” Callaghan said.
Police say the investigation led them to a scheme in which lenders were defrauded of $11 million by individuals who falsely presented themselves as officers of a business that was seeking to expand by borrowing money to invest in heavy equipment.
That equipment was allegedly “undervalued or never leased at all” through a series of shell companies.
Investigators eventually tracked the payments to an account under Commisso’s name, which “did not initially come up in this investigation,” Callaghan said.
Commisso served prison time in the 1980s for convictions including two counts of counselling to commit murder and uttering a death threat.
Callaghan didn’t expand on allegations against Commisso, but said “we’re not alleging that he had a directing role” in the scheme, which allegedly saw money flow across Canada into Brazil and the Seychelles
Charged with fraud over $5,000 and participation in a criminal organization are Gatti; Faisal Iqbal Qureshi, 42, of Richmond Hill; Tarragh Bracken, 47, of Whitby; Darrell Shulman, 49, of Thornhill: Mary Sophie Kaloczi, 35, of Georgetown; Maurizio Adiletta, 53, of Brampton; and Pino “Frank” Guido, 53, of Kleinburg.
Charged with fraud over $5,000 are Eric Thomas, 57, of Mississauga; Sanjeev Mannan, 48, of Locust Hill; Laura Tolosa, 37, of Toronto; and Ravinder Bedi, 54, of Brampton.
The accused are all scheduled to appear in a Toronto court on Oct. 26.
https://www.thestar.com/news/crime/2017/09/20/12-arrested-in-11m-fraud-investigation.html