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Police arrest Cambridge men in fraud investigation

WRPS crest. (Erin Anderson/CityNews Kitchener)

By CityNews Kitchener Staff

Posted Nov 19, 2024 02:35:12 PM.

Last Updated Nov 19, 2024 03:20:07 PM.

Two Cambridge men are accused of defrauding banks, schools, and the Canadian government out of more than half a million dollars.

The investigation by Waterloo Regional Police launched in August when they received a tip about an employee at a financial institution who was allegedly completing unauthorized transactions.

Two male suspects were identified and police determined that financial institutions, educational institutions, and the Government of Canada were targeted.

Losses are estimated at more than $500,000.

On Tuesday, police searched two Cambridge homes and seized multiple cellphones, along with cash.

Two men were arrested. The 26-year-old and 27-year-old are facing multiple charges and will appear in court in January.

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