A life insurance broker was charged with 9 counts of fraud and criminal breach of trust.
A life insurance agent was arrested after being accused of swindling $1.1 million from elderly clients he was entrusted to manage for their retirement.
Chatham-Kent police arrested Richard Mahon, 67, following a five-month investigation.
Det. Const. Gary Oriet, of the criminal investigation branch, told The Daily News last summer a woman called police to report she couldn't find her investor.
The accused closed his business in August 2014, triggering alarms, said Oriet.
"Our investigation has revealed that the majority of victims were involved in Tax Back Ventures or Tax Back Venture Group. He (Mahon) used two different names for the same business," Oriet said.
The victims, who are between 70 to 90 years old and whose identities are protected by a publication ban, are from across Southwestern Ontario.
Oriet said, the ongoing investigation is searching different avenues where the funds may have gone.
Mahon is accused of defrauding nine people, as well as converting their investments, he held as trustee, for personal use between December 2003 and December 2014, according to court records.
He is facing nine counts each, of fraud over $5,000, and criminal breach of trust.
Investigators believe there could be more victims spread across Canada.
Chatham-Kent police arrested Richard Mahon, 67, following a five-month investigation.
Det. Const. Gary Oriet, of the criminal investigation branch, told The Daily News last summer a woman called police to report she couldn't find her investor.
The accused closed his business in August 2014, triggering alarms, said Oriet.
"Our investigation has revealed that the majority of victims were involved in Tax Back Ventures or Tax Back Venture Group. He (Mahon) used two different names for the same business," Oriet said.
The victims, who are between 70 to 90 years old and whose identities are protected by a publication ban, are from across Southwestern Ontario.
Oriet said, the ongoing investigation is searching different avenues where the funds may have gone.
Mahon is accused of defrauding nine people, as well as converting their investments, he held as trustee, for personal use between December 2003 and December 2014, according to court records.
He is facing nine counts each, of fraud over $5,000, and criminal breach of trust.
Investigators believe there could be more victims spread across Canada.
