Toronto police warn of ‘black money’ scams, arrest man for fraud

Toronto police are warning the community about ‘black money’ scams after arresting a 48-year-old man on Wednesday in connection with a robbery and fraud investigation.

On Dec. 22, officers responded to a robbery near Danforth and Greenwood avenues, police said in a statement. A man allegedly « lured » the victim into a business transaction and demanded money while threatening the victim with a gun.

During the man’s arrest, officers found large quantities of Canadian currency as well as counterfeit currency and black and white paper often used in currency scams.

Police are asking the community to beware of « black money » or « wash wash » scams in which the scammer presents the victim with black or white pieces of paper resembling banknotes and tells the victim that they can become real banknotes with the use of a « special » solvent that removes the black or white dye.

« If it sounds too good to be true, it probably is, » the statement read.

Police are asking anyone who thinks they may have been a victim of the scam to contact them at 416-808-5500.

Ana Pereira is a breaking news reporter who works in the Star’s radio room in Toronto. Follow her on Twitter: @anabpereiraa


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