An Indo-Canadian has been charged with cheating over 6,000 investors claiming that he had discovered a teeth whitening formula, which he was going to sell to Colgate Palmolive.

Salim Damji, who five years ago had pleaded guilty to cheating a large number of investors to the tune of about $78 million, was this week charged with fraud over $5,000, using a forged document and conspiracy to commit an indictable offence for allegedly arranging deposit of a stolen check made out for $8,000 into someone's bank account.

Earlier, Damji was sentenced for six years and three months in prison.

"A tiger doesn't change his stripes," Police Detective Jeff Thomson said, after charging him.

Damji succeeded in convincing the investors that once he sold his formula -- called Instant White -- he would give them $20.00 for a dollar. 

He reportedly claimed that his tooth whitening product called Instant White was about to be sold to the Colgate Palmolive Corporation. 

As the story goes, by claiming ownership of this 'Instant White' he raised $78-million from unsuspecting investors, who took his word for it.

When Colgate denied the purchase of his so-called formula, the police came into the picture.

He said he was forced into it by the mafia and that he was also forced to buy nine luxury cars worth $500,000. Those crime lords were supposedly based in Costa Rica and Jamaica. 

As the money came easily, Damji reportedly went on a spending spree, buying $4-million on property, including an $800,000 waterfront condominium in Toronto, for which he paid in cash. He bought two houses in Markham, North of Toronto, and a small strip mall in midtown Toronto worth over $2-million. 

Now the story has come through the National Parole Board that the fraud was the consequence of his gambling addiction. 

Since he was first arrested in 2002, Damji was out of jail in December 2003. But like a revolving door, this man has been in and out of jail several times.