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.