In a shocking turn of events, an Oshawa man is under fire for allegedly defrauding multiple investors out of more than $2.5 million in what appears to be a sophisticated investment scam.

The Durham Regional Police’s Financial Crimes Unit launched an investigation in June of the previous year after two victims came forward, revealing that they had been duped by a man claiming to be a professional financial trader.

According to authorities, the suspect, identified as 23-year-old Alex Noah Pekala, told his victims he could guarantee substantial returns on investments through a trading platform known as ‘Interactive Brokers.’ This promise of high rewards proved enticing enough for many, leading victims to transfer large sums of money under the guise of investment.

Between March 2023 and March 2024, Pekala allegedly convinced his victims to open accounts on the platform, where he would wield complete control over the trading activities. The police report reveals that he further manipulated his targets by driving luxury vehicles and presenting forged statements that promised impressive returns.

Through these deceptive tactics, Pekala is believed to have swindled victims out of a staggering total of $2.5 million, funds he purportedly used to sustain his lavish lifestyle.

On September 21, police apprehended Pekala, charging him with two counts of fraud exceeding $5,000. He is currently held and awaiting a bail hearing, with the validity of the charges yet to be determined in court.

Authorities are urging anyone with additional information about this case to step forward and contact the Financial Crimes Unit at 1-888-579-1520, ext. 5353, or reach out anonymously to Crime Stoppers.