In 2013, a retail company found that over $1,200,000, which was meant for one of their merchants, had inadvertently been deposited to a wrong bank account.
The retail company had attempted to recover the funds but was unable to successfully recover a large portion of them due to the recipient being unwilling to part with the money.
An investigation by the Niagara Regional Police Service’s Central Fraud Unit revealed that the funds had been moved to other bank accounts and had been used to make cash withdrawals and large purchases.
On Thursday, August 7, 2014, police arrested and charged a 53-year-old Hatim GULAMHUSEIN and 42-year-old Lutufia KHALEK, both of Beamsville, with Fraud Over $5000 and Laundering Proceeds of Crime.
Both were held in custody for a bail hearing where they were released on their own recognizance.