Mark E. Cohen’s whereabouts have been unknown since last August. At that time, shadow figures with ties to underground gambling circuits and others began appearing at his former home in North York asking to know where he was and to return large sums of money they had invested with him, according to a well-known source. with the situation that he is not authorized to speak publicly on the matter. CBC News previously reported on these efforts to find Cohen and three lawsuits accusing Cohen of persuading investors to help him buy used cars that would be resold at huge profits amid a lack of vehicles caused by last year’s pandemic. The 42-year-old faces two charges of fraud over $ 5,000. A Toronto police spokesman confirmed Cohen’s arrest and the charges against him in an email to CBC News. Last August, a plaintiff claimed that he had discovered that the bank accounts shown above and related to Cohen’s car business had dried up, according to his affidavit filed in court. (Submitted by Karrass Act)
Cohen appeared in court in Ontario, central Toronto, on Tuesday and was released on bail. None of the criminal charges brought against Cohen or the charges against him in civil cases have been proven in court. In an email to CBC News, Cohen vowed to fight the allegations and denies avoiding anyone. “We have been able to communicate 100 percent since last summer. These allegations are absurd and ridiculous,” he wrote.
“I deny all allegations against me and I will defend my name and any claim against me”

Promising monthly returns of up to 13%: lawsuit

Cohen and others began contacting investors to present what they said would be a lucrative business venture in the fall of 2020, according to a claim filed in December. He and others reportedly promised that Cohen could buy used vehicles from rental companies across Canada. They included Jeep, Toyota Camrys, Honda Civics and BMW X3 that were bought at a lower market price, according to court documents. The alleged plan was to resell to dealerships at significantly higher prices to create “excellent return on investment,” the statement said. In the beginning, investors would take back the promised high returns, which encouraged them to invest more, the statement said. The promised returns were up to 13 percent per month. Some investors handed over more than $ 5 million before Cohen allegedly disappeared with their money, according to civil court statements. In all, the plaintiffs’ attorneys claim that Cohen stole more than $ 12 million. Toronto police appear Monday outside a Von home in Ond., Where Cohen was arrested. (Submitted by name withheld)

Midnight visits by shadowy people

While some of the investors went to court, CBC News reported in January that Cohen had left his former home in North York as the alleged fraud began to be uncovered and investors could no longer reach him last summer.
According to a source familiar with the situation, who is not authorized to speak publicly about the matter, some of these individuals have links to illegal gambling circuits in Woodbridge, Ont., North of Toronto. The source said that these investors visited Cohen’s former home and the homes of at least two family members late at night, making violent threats and demanding that they find out where Cohen is to get their money back. Cohen was arrested Monday afternoon outside of Vaughn’s home in Ond., Where he had been living for the past few weeks.