Four people tied to Edmonton’s KO Auto Finance car dealership, located on St. Albert Trail have been charged with fraud and money laundering, RCMP said in a press release Friday.
The Edmonton RCMP Auto Theft Unit in October began an investigation into an individual who had obtained three fraudulent vehicle loans. Through this investigation, it was revealed that the owners of KO Auto Finance, an Edmonton area car dealership acquired vehicle loans through three financial institutions by producing forged documents.
According to RCMP, the money obtained through these fraudulent vehicle loans was used for personal expenses and investments.
On Thursday, Karanveer Marahar, Omid Nazari, and Shaharier Alam were arrested with help from the St. Albert RCMP. An arrest warrant has been issued for the fourth person, identified as Dilraj Marahar.
Dilraj Marahar, 28, and Nazari, 37 have been charged with fraud over $5,000 and money laundering. Karanveer, 32, has been charged with fraud over $5,000, uttering a forged document and forgery. While 26-year-old Alam has been charged with fraud and forgery.
All four are residents of Edmonton. The three men who were arrested were released on conditions and are scheduled to appear in court in Edmonton on March 31.
RCMP Auto Theft Unit has urged people who have been a victim of fraud at KO Auto Finance to contact their local police detachment.
