Published September 28, 2012 | 10:50 am
Toronto:A Scarborough male ,Gregory Saunders is allegedly facing charges after 10 individuals and businesses reported they were defrauded in a green energy investment.The amount defrauded is believed to be in excess of $1 million.
Police say, between December 2009 and March 2012 it is alleged the accused defrauded these individuals and businesses by setting up a company located on Wellington Street West in Bowmanville called Saunders Power Incorporated. The company was geared at manufacturing “cork-screw style” wind turbines capable of producing energy that could be sold back to the Ontario Power Authority for a lucrative profit. The accused allegedly produced forged documents and a fake licence to make the business appear legitimate.
Officers were contacted by a suspicious investor in early January 2012 and commenced their investigation. On September 25, 2012, the accused was arrested at his Scarborough residence.
Gregory Saunders, 56 of Glenstroke Drive in Scarborough is charged with Fraud Over $5,000 and Forgery. He was held for a bail hearing.
Anyone with new information regarding this investigation is asked to contact Det. Smith of the Fraud Unit at 1-888-579-1520 ext. 5353.
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