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Investment Fraud Investigation,
Two Men Arrested,
Police Concerned There May Be More Victims



Broadcast time: 11:30
Tuesday, December 3, 2019

Financial Crimes
416-808-7300

Case #: 2019-1483698


The Toronto Police Service would like to make the public aware of two arrests made in an Investment Fraud investigation.

On Monday, August 19, 2019, the Financial Crime Unit were made aware of a high value fraud.


It is alleged that:

- two men approached an owner of a Toronto-run bakery and offered to buy the business

- there was a sale agreement, however, upon the Wednesday, April 24, 2019 closing date, there were no money exchanged

- despite this, the two men had taken possession of the 36,000 square foot building and $9 million worth of industrial machinery inside

- there was no intention of payment for the business


It is further alleged that:

- the two men are the Operators of Easton Pharmaceuticals Inc., which is a traded on the OTCMKTS

- they altered attorney letters to reflect having legitimately bought the bakery


On Tuesday, October 29, 2019, the Financial Crimes Unit executed a search warrant and arrested Vincent DeMasi, 51, of Toronto.

On Wednesday, October 30, 2019, Evangelos Karayannopoulos, 49, of Oakville, also known as Evan Kerras, was arrested.

Both men were charged with:

1) Fraud - Over ($5000)
2) Use a Forged Document


Police are concerned there may be more victims.

Anyone with information is asked to contact police at 416-808-7373, Crime Stoppers anonymously at 416-222-TIPS (8477), online at www.222tips.com, online on our Facebook Leave a Tip page, or text TOR and your message to CRIMES (274637). Download the free Crime Stoppers Mobile App on iTunes, Google Play or Blackberry App World.


For more news, visit TPSnews.ca.



Constable Victor Kwong, Corporate Communications, for Detective Constable Victoria Balice, Financial Crimes Unit




Investment Fraud Investigation,
Two Men Arrested,
Police Concerned There May Be More Victims



Vincent DeMasi, 51, of Toronto,
Arrested in Investment Fraud investigation
Above: Vincent DeMasi, 51, of Toronto, Arrested in Investment Fraud investigation




Investment Fraud Investigation,
Two Men Arrested,
Police Concerned There May Be More Victims



Evangelos Karayannopoulos, 49, of Oakville,
Also known as Evan Karras,
Arrested in Investment Fraud investigation
Above: Evangelos Karayannopoulos, 49, of Oakville, Also known as Evan Karras, Arrested in Investment Fraud investigation