Brampton man charged in $1.4-million Ponzi scheme targeting seniors
A 62-year-old Punjabi-origin man from Brampton, Ontario, has been arrested by the Peel Regional Police Fraud Bureau for allegedly operating a $1.4-million Ponzi scheme that defrauded elderly investors. Navdeep Boparai faces charges of fraud over $5,000, possession of property obtained by crime, and laundering the proceeds of crime.
According to a Peel Regional Police (PRP) press release, the fraudulent activity began in 2017. Victims invested money with Boparai and his company, BLM Canada Corporation, believing he was a successful mortgage broker. Investors were told their funds would be used in private mortgages, a condominium development, and a legal trust, with guaranteed returns.
How the scheme operated
Police allege that while some investors initially received payments, the investments were not legitimate. The returns were funded using money collected from other investors, creating the illusion of a profitable venture. This classic Ponzi structure led to total reported losses of approximately $1,465,000.
On May 26, 2026, Boparai was arrested and later released on an undertaking. He is scheduled to appear before the Ontario Court of Justice on June 29, 2026. Investigators believe there may be additional victims who have not yet come forward and urge them to contact the Fraud Bureau.
Police warning to investors
In a press communique, Peel Regional Police reminded the public to exercise caution when investing. They advised verifying the credentials of individuals or companies, carefully reviewing all documentation, and seeking independent financial or legal advice before committing funds. The police also warned the public to be wary of promises of guaranteed returns, high-yield investments with little risk, or pressure to invest quickly.
This case highlights the vulnerability of elderly investors to financial fraud. The PRP encourages anyone with information to come forward to assist in the investigation and prevent further victimization.
