WATCH: Police charge Ajax couple in alleged $8-million fraud scheme
Toronto Police have laid charges in what's alleged to be an $8-million case of fraud, identity theft, and money laundering.
A married couple from Ajax are accused of using fake identities, phony businesses, and bogus cheques to secure goods including luxury cars and heavy machinery.
Investigators believe the items would be shipped to Quebec to be re-sold.
Allegations are 35-year old Balasubramaniam Shanjeefkaran and his wife, 30-year old Sukanya Panchalingam, went to great lengths to establish fake businesses, including setting up phone numbers and websites that would be used to fool banks and creditors into granting the couple funds or loans.
Police say it was a bad cheque that provided the lead detectives needed to crack this case.
The pair faces charges including fraud over $5,000, possession of property obtained by crime, and laundering the proceeds of crime.
The investigation has been taking place over the last 8 months, and a total of 14 people have been arrested. Authorities believe that Shanjeefkaran and Panchalingam are at the centre of this alleged plot.
Panchalingam has insider knowledge of the banking sector.
She was employed at a bank in a job that involved investigating fraud.
Toronto Police are concerned there might be more victims.
Watch the entire police press conference here:
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