Lending money and getting paid with higher interest sounded simple and convincing enough for Elenita Rivera. The Toronto woman had been working for about two decades in Canada when she met a man in an online marketplace in 2023 who was looking for a business investor.
“He said it’s an investment for people who can’t afford the closing fees when buying a house. He said there’s a huge interest,” Rivera told OMNI News.
In January 2024, Rivera withdrew her entire retirement savings, amounting to $38,000.
“I withdrew my RRSP, and I gave it to him. Since he said he was in the real estate business, he made it look like I was buying a house, and that’s how I was able to withdraw my RRSP without tax,” Rivera said.
However, Rivera never received the promised payment.
In June 2024, she asked the man to return her money without the agreed interest. Instead of getting her funds back, Rivera only received what she said were several excuses from the man, including a promissory note requesting to pay the full amount by Nov. 8, 2024.
But again, no payment was received.
Rivera filed a fraud complaint with the Toronto Police Service, who confirmed an investigation had been launched.
Rivera, however, recently learned that this isn’t the first time the man faced fraud complaints. She’s now in contact with others who had similar experiences with the same individual.
“I know that I won’t get my money back, which is so frustrating,” she said. “But I want people to be aware of this person because I think he’s still trying to go out and victimize (people).”
The individual declined multiple requests to tell his side of the story but asked for time to pay the money he owes Rivera.
“All I was asking is until the end of this month. If I’m unable to give her some funds, she can just proceed with whatever it is she was planning against me, and I’ll face whatever comes my way. I just wish we can all come to an agreement and put this to bed sooner than later,” he said in a statement to OMNI News.
The man’s identity cannot be disclosed as no formal charges have been made.
