Mississauga, Ontario – January 23, 2024 – The Ontario Provincial Police (OPP) have apprehended a Mississauga resident, Naveed Nadir, 57, on charges of large-scale credit card fraud exceeding $1 million. This arrest follows a comprehensive investigation initiated in November 2020 after a major credit card company reported an individual with over $1 million in unpaid credit card debt.
The OPP’s investigation revealed that Nadir allegedly engaged in a sophisticated scheme of financial manipulation. He is accused of using his credit card to funnel funds through various financial aggregators, a process that involved cycling money through companies and individuals linked to him. This strategy reportedly allowed Nadir to artificially inflate his credit card limit, ultimately leading to more than $1 million in accumulated debt that was never repaid.
On Tuesday, the OPP confirmed Nadir’s arrest and subsequent charges, which include one count of fraud over $5,000 and one count of uttering a forged document. These charges reflect the seriousness of the allegations and the substantial financial impact of the fraud.
Following his arrest, Nadir has been released from custody. He is scheduled to appear at the Ontario Court of Justice in Toronto on February 22 to face these charges. The case has garnered significant attention due to the scale of the alleged fraud and the intricate methods reportedly employed.
The OPP continues to diligently combat financial crimes and urges the public to report any suspicious financial activities. This arrest underscores the commitment of law enforcement agencies to uphold financial integrity and pursue justice in complex fraud cases.