About 100 Ontario dairy farmers and 50 members of a Toronto synagogue were used as pawns in a $1.3-million investment fraud over a period of five years, police said.
The fraud squad is still investigating how Value Capital Leasing Ltd. collected $1,329,000 in false dairy cattle leases from its investors even after farmers terminated their contracts with the company.
Police refused to release the name of the synagogue, but said some of its members continued to invest in dairy cow leases even as Value Capital started forging contracts to keep the business going.
Edward Kirschner, 53, of Toronto, surrendered to police recently and has been charged with defrauding the public and falsifying books and records.