Suspect allegedly tricked victims into investing in fraudulent house-flipping business, say police
An Ontario woman has been arrested for allegedly defrauding six co-workers in an investment scam, according to police.
The Windsor Police Service announced the arrest of 53-year-old Lina Jido following an investigation into reports that six employees of a local restaurant were deceived into handing over substantial sums of money.
“The suspect allegedly tricked the victims into investing in a bogus house-flipping business based in the United States,” said the police.
Between April 30, 2023, and January 19, 2024, the victims transferred a total of $77,700 to Jido, according to the police report.
The police issued an arrest warrant following an investigation.
On March 17, Jido turned herself in at Windsor Police headquarters. She has been charged with fraud over $5,000.
“This remains an ongoing investigation. Anyone with information can contact the Financial Crimes Unit at 519-255-6700, ext. 4330. You can also contact Windsor & Essex County Crime Stoppers at 519-258-8477 (TIPS) or online at www.catchcrooks.com,” said the police.
Previously, the City of Ottawa fired a municipal employee implicated in a kickback scheme that funneled thousands of dollars from local landlords in exchange for inflated rental agreements under housing benefit programs.
Investment scams and other fraudulent activities within the workplace can have severe consequences for employers, according to PwC.
“Fraud is one of the most substantial threats to [the] viability and sustainability of any organization,” it said. “Damage caused by fraud can go far beyond purely financial losses or regulatory enforcement. It can result in significant adverse business impact undermining relationships, reputation and brands that are essential for the Organisation’s continuous growth and success.”
And effectively fighting fraud needs “a collaborative effort,” said Cuthbert Chiduku CFE, manager, fraud risk management, KPMG.
One in five Canadian businesses fell prey to payment fraudsters in 2024, according to a previous report from Payments Canada.
Overall, Canadians lost $638 million to fraud in 2024, noted the federal government, citing data from the Canadian Anti-Fraud Centre (CAFC).
“Anyone, anywhere, at any time can be a victim of fraud. Some victims may feel helpless, isolated or even embarrassed, but know that if you’ve been targeted, you’re not alone,” said Royal Canadian Mounted Police (RCMP)’s director general of the CAFC and National Cybercrime Coordination Centre. “Reporting the incident is the best way to help with the fight against fraudsters and could help some one else from becoming a victim.”
In 2024, the top three most reported types of fraud were identity fraud, service fraud, and investment fraud, said Ottawa.
March is fraud prevention month.
