MISSISSAUGA: Investigators from the Fraud Bureau of Peel Regional Police have arrested a man wanted on a Canada-wide warrant in connection with a 2013 fraud.
Dale Maharaj was arrested on Sunday — November 11 — when he landed at Pearson International Airport on a flight from Trinidad. He is linked a fraudulent scheme uncovered by Fraud Bureau investigators in 2013.
In that fraud scheme, two men posed as representatives of a investment group based in the United Arab Emirates and approached businesses to offer them loans. The two men claimed the source of these funds was the royal family of the United Arab Emirates. Many victim companies from Canada, the US and India paid the two men “advance fees” for approval of loans which never materialized. As a result, these companies suffered losses in excess of $3 million.
While Mississauga executive Hari Venkatacharya, 50, was arrested and charged with three counts of forgery and one count of defrauding the public in May 2013, a Canada-wide warrant was issued for Dale Maharaj.
Finally, Dale Maharaj, 53, was also arrested on Sunday at Toronto Pearson International Airport when he arrived on a flight from Trinidad. He appeared in Ontario Court of Justice for a bail hearing.
Venkatacharya is the husband of famous choreographer Lata Pada.
