NEWS RELEASE
WATERLOO REGIONAL POLICE SERVICE
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Members of Waterloo Regional Police Service's General Investigations Unit have charged two Cambridge males in connection to an ongoing fraud investigation.
The investigation began in August 2024 after police received a report of an employee at a financial institution completing unauthorized transactions, resulting in losses to the business.
Through investigation, it was determined that two males had defrauded financial institutions, educational institutions, and the Government of Canada out of over $500,000.
As part of the investigation, on November 19, 2024, investigators from WRPS’ General Investigations and Commercial Fraud Units completed search warrants at two residences in Cambridge, resulting in the seizure of multiple cell phones and Canadian currency and the arrest of two males.
A 26-year-old male and a 27-year-old male from Cambridge have been arrested and charged with two counts of Fraud over $5,000 and Possession of Property Obtained by Crime over $5,000.
The 26-year-old was also charged with two counts of personation.
The investigation remains ongoing.
The accused parties are scheduled to appear in court on January 9, 2025.
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