Oshawa Man Poses as Financial Trader, Misuses Interactive Brokers Name in $2.5M Trading Scam

A 23-year-old man from Oshawa has been charged in connection with an alleged investment scam that defrauded victims of more than $2.5 million over a year-long period.

The Durham Regional Police Service (SRPS) said that its Financial Crimes Unit launched an investigation in June 2024 after two individuals reported being misled by a man claiming to be a financial trader. According to police, the suspect promised “high returns on investments” through the well-known trading platform Interactive Brokers.

Between March 2023 and March 2024, the man allegedly persuaded victims to transfer large sums of money under the pretense of investing. Victims were instructed to open accounts on Interactive Brokers, where the suspect would have sole control over trading. 

However, no real trades were executed. Investigators say the suspect used luxury vehicles and forged investment return statements to bolster his credibility and lure victims. The funds were allegedly used to support his extravagant lifestyle.

On September 21, police arrested and charged Alex Noah Pekala with two counts of fraud over $5,000. He was held for a bail hearing.

BrokersView Reminds You

Beware of individuals who claim to be professional traders and promise guaranteed high returns. Legitimate investments carry risk and never guarantee unrealistic profits. 

In this case, the “Interactive Brokers” mentioned by the man is also likely a counterfeit platform impersonating Interactive Brokers. Therefore, please verify the authenticity before investing any funds on a platform.

If you fell for a scam, you can Submit a Complaint to BrokersView.