WINNIPEG — A Winnipeg man faces fraud-related charges after police say the company he worked for lost more than $4 million.
The company involved is Litz Crane & Rigging.
Police allege the man worked as chief financial officer and used the position to use the company’s money for his own personal benefit.
According to police the company lost the money between 2012 and 2017.
On Thursday the police financial crime unit searched a home in East St. Paul and seized financial documents and luxury items, such as jewelry, clothes, electronics and cars.
Police later arrested Peter Ramdath and charged him with theft over $5000, falsification of books and documents, fraud over $5000 and laundering proceeds of crime.
"The company is pleased an arrest has been made, but cannot comment further as the matter is in court," Catherine Howden, a lawyer representing Litz, said Friday.
Ramdath was being held in custody. (CTV Winnipeg)