OTTAWA -- Ottawa police say the owner of a local investment business is facing numerous fraud charges following an investigation that dates back to 2016.

In a press release on Tuesday, Ottawa police said that members of the public claimed a company called Innovalty Investments defrauded them between 2016 and 2017.

Police said their investigation found that company’s owner allegedly defrauded clients by proposing an investment opportunity involving a newly built housing project in Carleton Place.

So far, police have found 13 victims and say that, between them, they lost more than $600,000.

On Tuesday, police charged James Pellerin, 65, with eight counts of fraud over $5000 and 13 counts of obtaining credit by false pretense or fraud.

Police believe that there may be other victims and are asking them to contact the fraud unit at 613-236-1222, ext. 5292.

Pellerin was released on an undertaking and is to appear in court Jan. 29, 2021.

Anonymous tips can be submitted by calling Crime Stoppers toll-free at 1-800-222-8477 or at