A Mississauga man has been arrested and charged with fraud after allegedly racking up more than $1 million in credit card debt he never paid back.
In November 2020, the Ontario Provincial Police (OPP) launched an investigation after a large credit card company notified them that an individual had more than $1 million in outstanding payments.
Investigators allege that the suspect used their credit card to make payments to financial aggregators, “cycling money through companies and individuals controlled by or associated to them.” In doing so, police said their credit card limit was elevated high enough that the suspect was able to incur more than $1,000,000 in outstanding payments he never paid back.
On Tuesday, the OPP announced it had arrested and charged Naveed Nadir, 57, with one count of fraud over $5,000 and one count of uttering a forged document.
The accused has been released from custody and is scheduled to appear at the Ontario Court of Justice in Toronto on Feb. 22.