Easton Pharmaceuticals, Inc. (EAPH)

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Toronto Police Service
News Release
Tuesday, December 3, 2019 - 11:30 AM
Financial Crimes

The Toronto Police Service would like to make the public aware of two arrests made in an Investment Fraud investigation.

On Monday, August 19, 2019, the Financial Crime Unit were made aware of a high value fraud.


It is alleged that:

- two men approached an owner of a Toronto-run bakery and offered to buy the business

- there was a sale agreement, however, upon the Wednesday, April 24, 2019 closing date, there were no money exchanged

- despite this, the two men had taken possession of the 36,000 square foot building and $9 million worth of industrial machinery inside

- there was no intention of payment for the business

It is further alleged that:

- the two men are the Operators of Easton Pharmaceuticals Inc., which is a traded on the OTCMKTS

- they altered attorney letters to reflect having legitimately bought the bakery


On Tuesday, October 29, 2019, the Financial Crimes Unit executed a search warrant and arrested Vincent DeMasi, 51, of Toronto.

On Wednesday, October 30, 2019, Evangelos Karayannopoulos, 49, of Oakville, also known as Evan Kerras, was arrested.

Both men were charged with:

1) Fraud - Over ($5000)
2) Use a Forged Document


Police are concerned there may be more victims.