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Toronto man charged after police say fake auto insurance sold, over $1 million in claims paid

TORONTO - A 73-year-old Toronto man is facing multiple charges after police say fake auto insurance cards were sold, resulting in insurance claim payouts worth more than $1 million.

It is alleged that the suspect was selling counterfeit insurance cards known as "pink slips.''

Police say they believe there are a number of victims who bought the fake cards and are now driving vehicles without valid insurance.

Police say the man, who is not a licensed broker or affiliated with any company, collected monthly instalments in cash from the victims.

They say several accident claims have been filed by victims who believed they were insured, and insurance companies have also paid out more than $1 million.

Alexandr Chertin is charged with two counts of defrauding the public over $5,000, two counts of fraud over $5,000 and two counts of uttering a forged document.

Those who believe they may have bought insurance from the suspect are being advised to stop operating their vehicles and to contact police immediately.

Canadian Underwriter