Hari Venkatacharya charged with defrauding the public
Mississauga: Peel police Fraud Bureau officers arrested a male, Hari Venkatacharya after a lengthy investigation.
The investigation involved several large companies throughout Ontario and elsewhere in Canada. These companies were defrauded of “due diligence fees” in promise of large unconventional loans. The source of the loans was to be a funding group in the United Arab Emirates.
To date, investigators have been able to uncover over 3 million dollars in fraudulent due diligence fees with the loan amounts varying from $20 million dollars to $250 million dollars.
The accused, Hari Venkatacharya, is a 44 year-old business man residing in Mississauga. The accused appeared before the Ontario Court of Justice in Brampton on January 24, 2013 in relation to the charge of Defrauding the Public.