Three Toronto area residents, including Mohammed Saheed were arrested and charged in a $5 million real estate fraud.

Saheed, 42, along with accomplices, Winston McDowell, 67, Hollis Straker, 62, and Devika Dhanaswar, 48, allegedly convinced a group of individuals with limited financial resources to pool their money together and invest in real estate projects he was developing and would managed.

It is believed from February 2005 to present, the four men stole more than $5 million from at least 100 victims.

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