Ontario’s Serious Fraud Office (SFO) has charged two Sudbury area residents following a fraud investigation.
A small engine manufacturing, exporting and service business discovered a series of financial irregularities over a number of years that resulted in losses totalling more than one million dollars. Allegations of funds having been embezzled from the company were brought to members of the Greater Sudbury Police Service (GSPS) who, in November 2019, engaged the Serious Fraud Office.
Following a six-month investigation, two Wahnipitae residents have been charged with several offences contrary to the Criminal Code of Canada as follows:
Karen Cady, aged 47 years, is charged with: fraud over $5,000; laundering proceeds of crime; possession of property obtained by crime; failing to comply with probation order; and forgery.
Michael Cady, aged 43 years, formerly of Little Current, is charged with laundering proceeds of crime possession of property obtained by crime.
The accused are expected to appear at the Ontario Court of Justice in Sudbury on July 8.
As part of the investigation, various financial and property assets, including a residential home, a travel trailer, a pontoon boat, personal watercraft, a backhoe, three vehicles and $2,400 in Canadian currency, have been restrained as proceeds of crime.