Police charge male in multi-million dollar fraud

Lethbridge police have charged a 58-year-old man in connection with a multi-million dollar internal fraud.

In the fall of 2022, police say they initiated an investigation after receiving a report of fraudulent activity involving four local businesses.

LPS says a lengthy and complex investigation by members of the Economic Crimes Unit determined that between December 2014 and August 2019, nearly $3.5 million was embezzled or fraudulently obtained from the businesses for the personal gain of a male subject. During that time, the male is said to have served as an accountant, partner or held other positions within the companies that provided access to the businesses’ financial accounts and records.

Over the nearly five-year period, police say they identified numerous fraudulent transactions, including forged documents, fraudulently obtained loans, unauthorized transfers and deposits into personal accounts not associated to the businesses. The investigation also uncovered alleged evidence of money laundering.