Toronto Police have laid new charges against two individuals and are actively searching for a third suspect in a major, long-running synthetic identity fraud investigation that has resulted in millions of dollars in losses.
New Charges in Ongoing Project Deja Vu
This latest development is part of Project Deja Vu, an extensive probe into a sophisticated fraud ring. In April 2024, the first phase of the project saw police arrest 12 people and lay 102 charges, while seizing hundreds of fraudulent payment cards, fake identity documents, and approximately $300,000 in cash.
The three individuals now implicated were allegedly involved in the scheme from 2017 to 2023. According to investigators, they used synthetic identities to fraudulently obtain residential property mortgages within the Greater Toronto Area with the intent of laundering the illegal proceeds.
Suspects Charged and Wanted
Police announced the new charges on Thursday. Misbah Akram, 55, of Brampton, faces multiple counts including fraud over $5,000, laundering proceeds of crime, and making a false statement to procure a loan.
Saqlain Akram, 28, also of Brampton, is charged with offences such as possessing a credit card obtained by crime and making a false statement to procure a loan.
Authorities are also seeking Muhammad Akram, 59, of Brampton, who also uses the alias Chaudhry Akram. He is wanted on warrants for fraud over $5,000, laundering proceeds of crime, and unauthorized possession of credit card data. Police are urging the public to come forward with any information on his whereabouts.
Scale of the Fraud and Criminal Links
The investigation, which began in October 2022, revealed that those involved allegedly created more than 680 unique synthetic identities since 2016. These false identities, supported by fraudulent government ID documents, were used to open bank and credit accounts at financial institutions across Ontario.
Police state that fraudulent payments were made to artificially inflate credit limits, allowing the accused to draw far beyond their authorized borrowing capacity. The scheme has led to confirmed losses of at least $4 million to date.
Detective David Coffey, who briefed media on the case in 2024, emphasized that the implications extend far beyond financial fraud. "Accounts obtained under synthetic identities are known to facilitate other serious criminal offences including the laundering of proceeds derived from human trafficking, drug trafficking and armed robbery," Coffey stated.
Anyone with information related to this case or the whereabouts of Muhammad Akram is asked to contact the Toronto Police Financial Crimes Unit at 416-808-7300 or Crime Stoppers anonymously.
