Winnipeg CFO Defrauds Company of More than $4 Million

Winnipeg CFO Steals $4 Million

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.

TOPICS:   Winnipeg Crime

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