A 30-year-old bank manager has been charged after police said he defrauded the Toronto-Dominion Bank of close to $1 million during a six-year span.
Toronto police said Duane Sahadeo worked in the Trade Support Group of TD Securities and fraudulently obtained money through “improper requests for TD bank drafts.”
Investigators alleged Sahadeo set up a shell company called MRS Consulting Ltd., from which he submitted fraudulent manual expense claims and invoiced the bank for “non-existent services.”
READ MORE: Toronto woman charged after consulting firm clients bilked out of $1.9M: police
In total, police said TD was defrauded of about $921,310. A spokeswoman for TD Securities said they do not comment on active police investigations.
Duane Sahadeo, 30, of Pickering, was arrested Thursday morning and charged with fraud over $5,000 and uttering forged documents. He was scheduled to appear in a Toronto court Friday.
Anyone with information is asked to contact police at 416-808-7300 or Crime Stoppers anonymously at 416-222-TIPS (8477).
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