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Police make arrests in fraud investigation after couple invests $680,000

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Two people face charges after provincial police say a Huntsville couple invested roughly $680,000 into what they thought was a legitimate institution.

According to Huntsville OPP, the fraud investigation started in November 2023 after the couple invested in what was identified as Alterna Bank, but police said the account wasn't associated with that bank, "and the representatives were using aliases."

Police identified the culprits as a woman and a man from Severn Bridge and charged them each with possession of property obtained by crime over $5,000.

They are scheduled to appear in court in Bracebridge next month to answer to the charges.

Fraud Warning Signs & Protecting Yourself

Police advise residents to research before investing: Verify email addresses, websites, phone numbers and addresses.

Contact the business to ensure the person you're dealing with is legitimate.

Check to ensure investment companies are registered.

Be wary of suspicious investment-related emails from a friend, and reach out to that person through a different form of communication, like a phone call, to confirm it was from them.

Finally, report any suspected fraud to the authorities or the Canadian Anti-Fraud Centre, even if no money was lost.

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