A Facebook Marketplace deal for gold bars allegedly ended with the seller holding counterfeit $100 bills.
Peel Regional Police say Terran Miller, 24, of Kitchener, has been charged in connection with two online marketplace transactions involving precious metals and fake cash.
The first alleged incident involved gold bars valued at about $8,500. The second involved gold and silver bars valued at about $5,700.
Police say Miller was wanted by multiple agencies across Ontario for similar occurrences when he was arrested.
The First Seller Met the Buyer at a Brampton Residence
CityNews reported that the first incident happened in January after the accused contacted a seller through Facebook Marketplace.
Police said the two arranged to meet at a residence in Brampton for the purchase of gold bars valued at roughly $8,500. During the meetup, the accused allegedly handed over cash in $100 bills.
While the seller was counting the money, police say the accused grabbed the gold bars and fled. The seller later discovered that $8,300 of the cash was counterfeit, according to Peel police.
A Second Seller Reported a Similar Precious-Metal Deal
Police said a second incident happened in March. In that case, the accused allegedly arranged to buy gold and silver bars from another online seller, with the items valued at approximately $5,700.
After the transaction, the victim determined that $5,600 of the cash received was counterfeit. Police did not publicly say whether that second meetup happened at a residence, business, parking lot, or another location.
The Charges Include Fraud and Counterfeit Currency Counts
The Peel Regional Police Fraud Bureau charged Miller with two counts of fraud over $5,000, two counts of possession of counterfeit currency, and two counts of uttering counterfeit currency.
He is also charged with failing to comply with a release order. Police said Miller was already on judicial release for multiple fraud-related charges before the courts at the time of his arrest.
Peel police said the Fraud Bureau has seen a marked increase in fraudulent transactions involving online buy-and-sell platforms. Investigators encouraged people using private-sale platforms to use police Buy and Sell Safe Exchange Zones and to verify the authenticity of cash before completing a transaction.
High-Value Sellers Should Verify Cash Before Releasing the Item
For high-value sales, sellers should keep the item out of the buyer’s hands until payment is verified, meet in a police safe exchange zone, bring another person, avoid residential meetups with strangers, and stop the sale if the buyer rushes the count, creates a distraction, or tries to leave before the money is checked.
Cash should be inspected before the transaction is finished. Sellers can look for security features, compare bills, use a bank or trusted business setting where possible, and avoid accepting large stacks of high-denomination bills in a rushed exchange.
Anyone with information about the Peel investigation can contact the Fraud Bureau at 905-453-2121, ext. 3335. Suspected counterfeit currency or marketplace fraud should also be reported to local police and the platform where the sale began.