KITCHENER -- Five men from several Ontario communities have been arrested following a multi-jurisdictional fraud investigation.

Waterloo regional police led the investigation, with assistance from police forces in York, Toronto and South Simcoe, along with the OPP.

In a news release, police said they were investigating an organized crime group allegedly buying construction vehicles and farm equipment using fraudulent bank drafts and IDs.

Officials have identified five construction and farm machinery businesses in Puslinch, Markham, Burgessville, Vaughan and Toronto that fell victim to the fraud, resulting in more than $390,000 in total losses.

Five men were arrested five men between the ages of 26 and 37 in March. Two of those men were arrested near Queen and Lancaster Streets in Kitchener and had $30,000 in cash and a rental vehicle, which were both seized by police.

There is also a warrant out for one outstanding man's arrest.

The men are facing more than 30 combined charges, including possession of stolen property, forging documents, conspiring to commit fraud and identity theft.

Police said they seized more than $4 million in fraudulent cheques.

The investigation is ongoing. Anyone with information is asked to contact police or Crime Stoppers.