Police have charged an Oakville man after an investigation into a $500,000 fraud scheme in Vaughan.

Police launched an investigation after receiving a fraud complaint last December. The victim told authorities he was defrauded by a financial adviser operating under a business name called “MT Financial,” based in Richmond Hill. Investigators allege the adviser, was not licensed to be operating in the securities industry in any capacity, took more than $500,000 from the victim’s business and personal accounts.

Police say that there could be more victims.

Mohamed “Moe” Tahir, 41, of Oakville is charged with Fraud over $5,000.

Tahir was released from custody on bail on Dec. 11, 2014 and is scheduled to appear in Newmarket court on March 5, 2015.

Anyone with information can contact Det. Const. Roger Glendinning #560 of the York Regional Police Major Fraud Unit at 1-866-876-5423, ext. 6619, Crime Stoppers at 1-800-222-TIPS, leave an anonymous tip online at http://www.1800222tips.com, or text your tip to CRIMES (274637) starting with the word YORK