Ontario’s Peel Regional Police have charged two men with fraud in connection with an alleged Ponzi scheme.

Police allege the scheme involved the men posing as either successful investors, or Canadian Security Intelligence Service (CSIS) officers, with access to unclaimed government money.

So far, police report that they have located 24 victims of the scheme, who have lost approximately $4 million. Police investigators are seeking other victims of the scheme that, police say, was in operation from January to October 2014.

They have charged Shuaib Shafi , 27, of Vaughn, Ont. and Shabnam Shafi, 41, of Mississauga, Ont. with various offences, including fraud over $5,000, and money laundering. They were both arrested on May 7, and held pending a bail hearing at the Ontario Court of Justice.

The allegations have not been proven.