A man from Bowmanville has been charged after a Kitchener business was defrauded of more than $70,000, according to Waterloo Regional Police.
They say an investigation was launched in January 2021 after the business reported losing $70,000 because of fraudulent e-transfers.
Police say investigators identified a suspect and raided two locations in Toronto.
Officers seized jewelry, cell phones, a safe, credit and debit cards, a currency counter, drugs and approximately $50,000 in cash during the raids.
A 31-year-old man is facing several charges including fraud over $5,000, theft over $5,000, and possession of property obtained by crime.