Canada Pursues Alleged Schemer

Erez has been charged with 10 counts of fraud in the multimillion-dollar scheme that took place between 2005 and 2009. None of the money has been recovered and most of Erez's assets were harvested through a prior bankruptcy.

According to investigators, the victims were told that they were investing in printing contracts with major corporations including Subway, Movado and Tommy Hilfiger, the Star said. The investors, acquaintances of Erez's in the Jewish community, were promised returns ranging from 20 percent to 36 percent. Some money was paid back to the investors.