Toronto Police say a 61 year-old man has been allegedly defrauded of coloured diamonds worth an estimated $1 million.
The elderly victim was said to have invested in a large number of loose, coloured diamonds and had made plans to sell them.
Investigators say the man met up with a buyer at a local restaurant who claimed to be a doctor.
They say the diamonds were exchanged for a cheque which turned out to be fake.
Authorities are asking anyone with information to come forward.