Markham (November 30, 2020) – The York Police charged Steve Ramcharan from Pickering, who allegedly defrauded a Markham company out of $5.4 million while he was the company’s controller. He is accused of moving company funds into a private business that he had set up. On September 15, officers arrested Ramcharan and charged him with Fraud Over $5,000 and Criminal Breach of Trust.
The York Regional Police laid charges against Steve Ramcharan of Pickering for employee fraud, according to a press release issued on November 30. He is accused of defrauding a Markham company out of $5.4 million.
Markham company defrauded out of millions
York Police’s Financial Crimes Unit started the investigation in August of this year, after a forensic audit discovered that a Markham company had paid millions of dollars to an unknown business.
As a result of the investigation, officers identified that the company’s controller was allegedly moving company funds into a private business that he had set up. The police said that he defrauded more than $5.4 million using this scheme. Police did not reveal further details on how he perpetrated the fraud.
Charges laid against company’s controller
On September 15, the police arrested Ramcharan and charged him with Fraud Over $5,000 and Criminal Breach of Trust. The 43-year-old is scheduled to appear in a Newmarket court on January 8, 2021.
The police pointed out that the investigation is ongoing and asked anyone with information 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.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.