Cambridge men charged for defrauding federal government, financial institutions and educational institutions
Canadian currency is shown in this file photo.
Two Cambridge men have been charged as part of an ongoing fraud investigation that began over the summer.
In August, the Waterloo Regional Police Service was told an employee at a financial institution was making unauthorized transactions.
During the investigation, police discovered two men had defrauded financial institutions, educational institutions and the Government of Canada out of more than $500,000.
On Tuesday, police, armed with warrants, searched two homes in Cambridge and seized multiple cellphones and cash. Two men were arrested.
A 26-year-old man and a 27-year-old man, both from Cambridge, have been charged with two counts of fraud over $5,000 and possession of property obtained by crime over $5,000.
The 26-year-old man was also charged with two counts of personation.
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