A 61-year-old Oakville man has been arrested in connection with a major fraud investigation.

Peel police Richard Chojnacki was arrested and charged on Friday with defrauding the public.

The Fraud Bureau began an investigation into the practices of Chojnacki after receiving complains from the public.

Investigators allege that, while working as a lawyer until 2010, the suspect defrauded clients of millions of dollars by accepting personal funds to either be held in trust or as short term personal loans, known as Promissory Notes.

Clients reported to authorities that their Promissory Notes were worthless and that their money had disappeared.

Police have so far identified 6 people who have been victimized, for a total loss of over $4.8 Million between 2003 and 2010.

Investigators believe that there may be other individuals who may have been victimized in the same manner. Anyone who may have been victimized by the suspect is asked to contact the Fraud Bureau at (905) 453-2121, ext. 3350. Additionally, anyone who has information on these frauds, and/or the individuals connected to them, is also urged to contact investigators.