Waterloo regional police arrest man for fraud, 16 victims allegedly lose $500K

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Waterloo regional police have arrested a man for fraud after they say 16 people, from Saskatchewan to Ontario, lost around a total of $500,000. 

According to a news release, officers were called to a bank in the area of Main and Ainslie Streets in Cambridge on Jan. 24 around 2:30 p.m.

They say a man was fraudulently trying to withdraw funds.

Investigation revealed the man obtained a bank account with an ID that was stolen in Halton Region on Dec. 26.

Police say they found identity documents, bank statements, credit cards, and further evidence of identity theft and fraud after they searched him and his vehicle.

Further investigation helped police find 16 victims of fraud from Saskatchewan to Ontario who allegedly lost about $500,000.

A 36-year-old man from outside the region has been arrested and charged with three counts of identity theft, two counts of fraud over $5,000, obstructing police, and possession of suspected meth and fentanyl, among other offences.

This article was originally sourced from www.CTVnews.ca