Investigators with the York Regional Police Financial Crimes Unit have charged a company employee after he was found to have defrauded his employer of $5.4 million in connection with an ongoing fraud investigation.
The investigation began in August 2020, when a forensic audit brought to light that a business located on Gough Road, which is in the area of 14th Avenue and Warden Avenue in the City of Markham, had millions of dollars paid out to an unknown company, said police.
As the investigation progressed, an employee who was the company’s controller was identified as being the person suspected of moving company funds into a private company that he had set up. It was discovered that more than $5.4 million had been paid to the employee’s personal company, officials added.
On September 15, 2020, 43-year-old Steve Ramcharan from Pickering was arrested and has been charged with Fraud over $5,000 and Criminal Breach of Trust.
Ramcharan is scheduled to appear before the Ontario Court of Justice in Newmarket on January 8, 2021.
The investigation is ongoing. Anyone with information is asked to contact the York Regional Police Financial Crimes Unit at 1-866-876-5423, ext. 2486, or call Crime Stoppers at 1-800-222-tips or leave an anonymous tip online at www.1800222tips.com.