Man Arrested in Fraud Over $5000 Investigation, City of Toronto

The Toronto Police Service is making the public aware of an arrest made in a Fraud investigation.

On Thursday, August 12, 2024, officers from 11 Division began investigating a Fraud Over $5000, in the City of Toronto.

It is alleged that:

• the suspect claimed to be a private investor with a company by the name of 10000272 Canada Inc. Norstar Financial Security
• the victims would invest money into this business, and were promised returns on their investments 
• the suspect then claimed he was using the victims’ returns to purchase vacant land 
• the victims never received any returns from the suspect
• the suspect produced false documents to the victims 

On Tuesday, March 3, 2026, Neilay Modi, 50, of Markham, was arrested and charged with:

1. four counts Fraud Over $5000
2. four counts Possession of Proceeds Obtained by Crime
3. three counts Forgery

He is scheduled to appear in court at the Ontario Court of Justice, 10 Armoury Street, on Thursday, May 14, 2026, at 2:00 p.m., in room 201.