An Ontario man is one of four men who are facing charges in connection to a fraud and money-laundering scheme, according to U.S. authorities as they also moved on four properties and more than $128 million.
The Canadian teamed with three men from south of the border as the allegedly submitted bogus applications to U.S. financial institutions to get merchant processing accounts, according to the IRS. The group would use private personal information of unaware people which had been obtained under false pretenses in their bank applications.
U.S. authorities say the crew then used the accounts “to accept credit and debit cards to further an e-commerce enterprise which used high-risk and unscrupulous sales techniques.”
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The IRS says that by using other people’s information to obtain the accounts, the men were protecting themselves from the risks associated with the business.
The agency says the crew were able to obtain more than $128 million through their efforts.
The men also allegedly laundered their ill-gotten gains by pauing to promote their scheme through methods such as advertising.
In addition to the man from Ontario, men from Miami, Orlando and Bay Shore, N.Y., have been charged with conspiracy to commit bank fraud and conspiracy to commit money laundering as the men from Miami and Bay Shore were also charged with bank fraud.
The IRS did not specify the location of the man from Ontario nor whether he had already been taken into custody.
The IRS says they will look to seize three homes in Miami as well as one in the U.S. Virgin Islands as the authorities is also seeking an order of forfeiture in the amount of $128,144,908.66.
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