WINNIPEG - A Winnipeg man has been arresting for defrauding the company that he worked for out of more than $4 million dollars over a five year period.
After an extensive investigation, 42 year-old Peter Ramdath was arrested and charged with Theft over $5,000, Possession of Property Obtained By a Crime over $5,000, Fraud over $5,000 (X2), Falsification of Books and Documents, and Laundering Proceeds of a Crime.
Ramdath was employed as the company's Chief Financial Officer and used his position to convert company funds to his own benefit using several strategies. A search warrant was executed at a home in East St. Paul and financial documents and luxury items such as jewelry, vehicles, electronics and clothing were seized.
He has been held in custody.