The Canadian Press

A hockey dad is accused of bilking friends out of hundreds of thousands of dollars through a bogus investment scheme.

Peel Regional police say they found 14 victims linked to a suspect who allegedly carried out several frauds totalling about $500,000.

Const. J.P. Valade says the suspect got to know the victims through his son’s hockey league and asked that they invest in a company which buys property, renovates it, then sells it at a profit.

But after money ranging up to $300,000 was invested, says Valade, the man would allegedly disappear.

The suspect said he ran businesses called Fininvest and Spectrum Investments and was a car dealer and mortgage broker.

Forty-four-year-old Steve Sitahall, of no fixed address, was arrested March 4 on numerous fraud-related charges.