Harold Forster of Richmond Hill charged with insurance fraud

Investigators working out of the York Regional Police Major Fraud Unit have charged a former Richmond Hill life insurance agent in connection with historical investment fraud.

In April 2010, York Regional Police received a complaint regarding a possible investment fraud dating back seven years. In 2003 the victim invested approximately $27,000 with the suspect who was then working as a life insurance agent. The victim was promised an investment in Canada Life or Manulife insurance. When the victim attempted to withdraw his funds in December 2009, he learned that his money from 2003 was never invested. A lengthy investigation revealed the suspect was using the victim’s money for his personal use.

On the morning of Tuesday, September 7, 2010, a Richmond Hill man was arrested without incident after turning himself in to the York Regional Police #1 District Headquarters.

Investigators estimate that between 1998 and 2004 a total of four elderly victims were defrauded of approximately $257,000 in the Towns of Georgina, Listowel and Tillsonburg.

CHARGED:

• Harold FORSTER, 79, of Richmond Hill

CHARGES:
• Fraud Over $5,000 x 4

Mr. FORSTER has been released from custody and is scheduled to appear before the Ontario Court of Justice in Newmarket on Friday, October 7, 2010.