The Toronto Police Service, Financial Crimes Unit – Corporate Section has been investigating allegations from complainants of fraud dating back to 2005.
It is alleged that:
– the accused, who previously owned a printing business, deceived the complainants by claiming to conduct business with world renowned companies such as Tommy Hilfiger, Movado, Colgate-Palmolive, Loblaw and Subway
– the complainants believed they were investing in these printing contracts when in fact, no contracts ever existed
– in total, of the ten complainants who have come forward, the accused obtained approximately $9 million between 2005 and 2009
On Tuesday, October 25, 2011, Tzvi Erez, 44, of Toronto, was arrested. He is charged with:
1) ten counts of Fraud over ($5,000)
He is scheduled to appear in court at Old City Hall, in courtroom 111, on Tuesday, December 6, 2011, at 11 a.m.