Toronto Man Charged in Multi-Million Dollar Investment Scam: York Regional Police Investigation
A Toronto man has been charged by York Regional Police (YRP) in connection with an alleged multi-million-dollar investment scam. The investigation by the force's Financial Crimes Unit began in March 2025 after a victim reported losing money in an investment fraud scheme. The victim had invested funds in February 2024 with a man who owned a company named Equity Line Service Corporation, promising a return that never materialized.
Further investigations revealed that five more individuals had also invested money with the same individual in February 2025. Police allege that the suspect misappropriated over $2.5 million from the group for personal gain instead of investing it as promised. Following a thorough investigation, 40-year-old Sergiy Shchavyelyev of Toronto was arrested and charged on December 9, 2025, with six counts of fraud over $5,000.
YRP has released a photo of the accused, suspecting that there may be additional victims who have not yet come forward. Anyone with information related to this case is urged to contact YRP investigators.
In conclusion, the Toronto man has been charged by York Regional Police in connection with an alleged investment scam involving millions of dollars. The investigation revealed multiple victims who had invested money with the suspect, leading to charges of fraud over $5,000 against the individual. YRP is seeking additional information from potential victims to further the investigation.