York Regional Police (YRP) say a Toronto man has been charged in connection with an alleged multi‑million‑dollar investment scam.
The force’s Financial Crimes Unit launched the investigation in March 2025 after a victim reported losing money in what police describe as an investment fraud.
According to investigators, the victim invested funds in February 2024 through a man who owned a company called Equity Line Service Corporation, who promised a return that never materialized.
Authorities learned in February 2025 that five more people had also invested money with the same individual. Police allege the suspect misappropriated more than $2.5 million from the group for personal gain rather than investing it.
Following what police called a “thorough investigation,” 40‑year‑old Sergiy Shchavyelyev of Toronto was arrested and charged on Dec. 9, 2025, with six counts of fraud over $5,000.
Police have released a photo of the accused, believing that additional victims might come forward.
Anyone with information is asked to contact YRP investigators.