Two men have been arrested by police in connection with a significant fraud scheme that resulted in victims being swindled out of over $800,000. Investigators suspect there could be more individuals who fell prey to the scam.
Authorities in Peel Region disclosed that the investigation commenced in July 2024 after numerous complaints were lodged regarding a contracting company called A&E Contractors operating in Brampton and Mississauga. Subsequent to a thorough two-year probe, it was revealed that the company lacked legitimate business activities, a physical address, or any official corporate documentation.
Timothy Carter, a 66-year-old resident of Mississauga, and Marco Maggisano, aged 55 and hailing from Vaughan, now face multiple charges related to fraud. Additionally, Carter has been accused of assault, assault with a weapon, and making threats.
The overall financial toll stemming from this fraudulent operation is estimated to surpass $800,000, with authorities suspecting the existence of more victims who had dealings with A&E Contractors. Those potentially affected are urged to reach out to the police.