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.”
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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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