Two more people have been arrested, and police are searching for a third suspect in connection with a fraud and money laundering scheme that has already led to the arrests of a dozen people and more than $4 million in losses.
Investigators allege the trio took part in a synthetic-identity fraud scheme aimed at fraudulently obtaining mortgages for residential properties in the GTA, which were then used to help launder some of the proceeds generated through the scheme.
Synthetic identity theft is a form of financial fraud in which a real person’s information, such as their Social Insurance Number or date of birth, is stolen and combined with other falsified personal information to create a new identity.
While this type of theft can be difficult to detect with traditional fraud monitoring systems, police were initially tipped off in October 2022 by a financial institution that located several synthetic accounts, most of which had been opened by a single person who had previously worked on behalf of the company.
Since they began investigating the scheme dating back to 2016, police have uncovered 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.
In April 2024, police arrested 12 people and laid more than 100 charges in connection with the investigation, dubbed Project Deja Vu.
On December 4, 2025, police said they had additionally charged 55-year-old Misbah Akram and 28-year-old Saqlain Akram – both of Brampton – in connection with this scheme. They are facing a combined 10 fraud-related charges.
A third suspect, 59-year-old Muhammad Akram – who also goes by the name Chaudry Akram – is wanted on four fraud-related charges. Anyone with information on his whereabouts is asked to contact the police.
Investigators believe there may be additional incidents and victims and are hoping to speak with various businesses that were approached by any of the arrested persons.
