Police say that a 33-year-old man accused of defrauding two people of a combined $80,000 appears to be targeting members of the Iranian community and may have additional victims.

York Regional Police first began an investigation into the suspect in October, 2018 after a male victim came forward to report an investment fraud.

It is alleged that the victim met the suspect through some friends and was then convinced to invest $44,000 USD with him. Police say that the victim was promised a large return on his investment but once he handed over the money the suspect stopped answering his calls and had no further communication with him.

The suspect was then arrested in January and charged with one count of fraud over $5,000 in connection with the scheme.

In May, police revived their investigation after a second victim came forward alleging that she had also lost money in an investment scam. Police allege that the suspect befriended the victim in late 2018 and early 2019 and convinced her to invest money with him. He also convinced her to send money to her family in Iran through him, police say. All told the victim lost a total of $36,000 CAD.

The suspect, identified as Omid Mahmoud-Kashani, was subsequently rearrested and charged with another count of fraud over $5,000, bringing the total number of charges against him to two.

In a press release issued Wednesday, police say that they believe the suspect “has been targeting members of the Iranian community” and may have additional victims.

The investigation remains ongoing.

“Anyone who has provided money to the accused is asked to please come forward,” police said.