Toronto police arrest man claiming to be luxury magazine publisher; charge him with fraud

[This post has been updated]Toronto police have announced the arrest of Jason Porter, 37, a Toronto-based publisher of Preston Evans a Canadian luxury magazine and charged him with 23 counts of fraud, money-laundering, traffic in stolen goods and possession of burglary tools. 

According to the police release, between May and November, Porter would contact single women via online dating sites,  presenting himself as a successful businessman, gain their trust and then would open bank accounts and obtain credit cards in their names. The total loss to date is about $40,000.

A website for Preston Evans Media Inc., with offices on Bay Street,  has a note signed by Porter as President and CEO saying

"Many people wondered why we would bring another luxury magazine to a market that already has many titles. The reason being, we knew the existing magazines were not featuring important and quality products for Canadians.  We knew that there are men and women in Canada that enjoy having dinner out and not winding up in a below par restaurant, or professionals that want to have a glass of wine or scotch with a hint of culture - maybe with Nina Simone playing in the background.

Elsewhere on the site, the following claim is made:

"Preston Evans magazine marries features on fashion and food with finance and family, economics meets entertainment and cars share the spotlight with theatre and travel. Preston Evans gives its highly valued, astute readers an all-inclusive compendium of lifestyle sections, perfectly crafted to meet their very specific wants and needs."

"Preston Evans and PrestonEvans.ca is the essential guide for the modern connoisseur. Our content rests on two pillars: Expert Editorial, packaged with the Highest Production Quality."

The magazine claims to publish two print issues annually and a daily website. Its extensive online media kit has no information about the circulation of the print magazine and very little hard information about the price of online advertising. 
[Update: Both the Globe and Mail and the National Post had extensive stories on this Tuesday.]