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Local man faces fraud charge after allegedly withdrawing $170K from victim's bank account

A 20-year-old Cambridge male has been charged after allegedly withdrawing $170,000 from another man's bank account over a three-year period
WRPS cruiser

Police have laid charges after an elderly Cambridge male was defrauded out of over $170,000.

This investigation, led by the Service’s General Investigations Unit – Fraud, involved allegations of fraud dating back to 2016.

On May 10, 2022, Waterloo Regional Police arrested a 20-year-old Cambridge male in connection to a lengthy fraud investigation.

It is alleged that an individual known to the victim surreptitiously signed the victim up for online banking. Between July 2016 and November 2019, that individual, who was a young person at the time, electronically withdrew over $170,000 from the victim’s bank accounts and credit card.

As a result of this investigation, the 20-year-old male has been charged with fraud over $5,000 and possession of property obtained by crime.

To learn more about fraud and identity theft, visit our website