Toronto police to reveal major fraud bust involving luxury goods, art

Toronto police are set to unveil the results of a sweeping fraud investigation that has led to multiple arrests and the seizure of hundreds of thousands of dollars in luxury goods and artwork.

Investigators say seized luxury items and art will be displayed during the “Project Fare” press conference, slated to begin at 10 a.m.

In 2024, Toronto police recorded just over 16,700 fraud reports, with total estimated losses reaching approximately $368.6 million, equating to an average of 45 reports per day.

According to Toronto police data, the top five financially damaging scam types (by reported dollar losses) were online investment scams ($71.2 million), account takeovers ($36.1 million), romance scams ($34.5 million), cryptocurrency scams ($32.8 million) and identity theft ($16.4 million).