This article was last updated on April 16, 2022
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After a lengthy investigation, officers from the Peel Regional Police Fraud Bureau have arrested a female in relation to an investment fraud.
Nuzhat Mamoon, also known as Umme RUBAB, a 46 year-old Brampton resident, is alleged to have committed the fraud over a period of at least one year, targeting victims from the South Asian and Muslim communities in Brampton and Mississauga. Mamoon convinced victims to invest in her business ventures, promising to return the money with a profit within two weeks. To date, Mamoon has defrauded various victims of over $79,000.00.
On Wednesday, January 22, 2014, Nuzhat Mamoon/Umme Rubab was arrested and charged with Defrauding the Public. She appeared at the Ontario Court of Justice on Thursday, January 23, 2014.
Investor warning! Please keep in mind, that while occasionally small frauds are investigated and prosecuted, the largest and the systemic frauds are never criminally prosecuted. The are protected BY the system which profits from them and they are always settled in a “gentlemanly” (read money) fashion. The greatest risks to the public, to society and to your indivcomment_IDual financial health is in the systemic (industry designed and planned) frauds that go unreported. Always remember that most people who sell investments are incentivized and highly rewarded by an investment dealer to “produce”. Even if that commission or fee production causes great harm to their customers. To see how systemic frauds can cut the average persons retirement in half, and how you can protect yourself.