London RCMP have charged a Toronto man after a year-long investigation into an elaborate $6 million securities fraud scheme where some victims were stung twice.

RCMP say their investigation began with a tip from a London resident last April and they eventually determined that more than 100 people were victimized.

Police say the suspect used aliases

and forged sales receipts to lure the victim into investing $1 million into non-existent trades.

The investigators kept digging and uncovered over one hundred more Canadian victims, who had each lost thousands of dollars in fake futures trades.

But the scam did not stop there.

Some of the victims’ names were then handed over to another group of individuals, who would pose as asset-recovery specialists.

Those people were conned into sending even more money in a futile attempt to recover the money lost in the first fraudulent scheme.

Ronald Abrams, 72, of Toronto is charged with fraud over $5,000 and possession of the proceeds of crime.

He is scheduled to appear in court in London on June 18.

Police say that victims are often ashamed to complain after they have been defrauded.

“This particular case highlights the need for victims of fraud to come forward despite any personal stigma they may feel. Without the timely participation of certain witnesses, this individual and his associates, who we allege had already stolen over $6,000,000 dollars could have continued to steal more money from more Canadians,”said Inspector Joe Czenze, of London RCMP.

The investigation is continuing with assistance of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

''The RCMP said anyone suspecting an investment opportunity is fraudulent should contact the Canadian Anti-Fraud Centre at 1-888-495-8501 or online at http://www.antifraudcentrecentreantifraude.ca/index-eng.htm.''