Toronto Police have arrested and charged a Richmond Hill as part of a fraud investigation.
Police allege the man posed as an insurance agent, presented himself to a potential client, and said he was selling policies which were better suited to that client.
The victim cashed out an existing life insurance policy in order to purchase insurance from the suspect, paying a total of $21,000. The suspect then ran away with the money.
Laurence Honickman, 41, has been charged with fraud over $5000, laundering proceeds of crime and fail to comply with probation.
Police believe there may be more victims. Anyone with information is asked to call Police or Crime Stoppers.