Lethbridge man, 58, charged in $3.5M fraud at four businesses
A years-long investigation by Lethbridge police found forged documents, fraudulent loans and money laundering tied to the alleged scheme.
Why it matters
The case highlights the financial risk local businesses can face from internal fraud over an extended period before detection.
Lethbridge Police Service has charged a 58-year-old man in connection with a multi-million dollar internal fraud affecting four local businesses. The investigation began in fall 2022 after police received a report of fraudulent activity.
Police say the Economic Crimes Unit's lengthy and complex probe determined that between December 2014 and August 2019, nearly $3.5 million was embezzled or fraudulently obtained for the personal gain of a male subject who served as an accountant, partner or in other roles giving him access to the businesses' financial accounts and records.
Investigators identified numerous fraudulent transactions, including forged documents, fraudulently obtained loans, unauthorized transfers and deposits into personal accounts unconnected to the businesses. The investigation also uncovered alleged evidence of money laundering.
The man was arrested without incident on October 13. He faces four counts each of fraud over $5,000 and theft over $5,000, and one count of money laundering. He was released on an undertaking with conditions and is scheduled to appear in court on November 10, 2026.
Compiled by the Alberta Daily Desk — an AI-written summary of reporting from the credited sources below, produced and reviewed under our editorial policy.