Police in Toronto say 12 people, including a Belle River man, have been arrested as part of a widespread synthetic identity fraud probe.
The Toronto police's Financial Crimes Unit launched Project Deja Vu in October 2022, looking into an operation that had been ongoing since 2016.
"The perpetrators are alleged to have created more than 680 unique synthetic identities, many of which were used to apply for and open hundreds of bank accounts and credit accounts at various banks and financial institutions across Ontario," read a release from Toronto police.
The 35-year-old man from Belle River has been charged with one count each of laundering criminal proceeds, fraud over $5,000, and possession of stolen property over $5,000.
The other suspects, from Brampton, Ayr, Mississauga, Markham, and Caledon, face numerous fraud-based and forgery charges.
Police began a closer look after getting a call from a bank that had identified several suspicious accounts, allegedly opened by the same person, a former employee.
Twenty search warrants were obtained, and from those, police recovered several dozen synthetic identity documents and templates to create false documents.
Also recovered were about $300,000 in Canadian and U.S. cash, and hundreds of credit, bank, and debit cards.
The charges have not been proven in court.