LETHBRIDGE, Alta. — Lethbridge police have charged a 58-year-old man in connection with a multi-million dollar internal fraud.
In the fall of 2022, police initiated an investigation after receiving a report of fraudulent activity involving four local businesses.
A lengthy and complex investigation by members of the Economic Crimes Unit determined that between December 2014 and August 2019, nearly $3.5 million was embezzled or fraudulently obtained from the businesses for the personal gain of a male subject. During that time, the male served as an accountant, partner or held other positions within the companies that provided access to the businesses’ financial accounts and records.
Over the nearly five-year period, police identified numerous fraudulent transactions, including forged documents, fraudulently obtained loans, unauthorized transfers and deposits into personal accounts not associated to the businesses. The investigation also uncovered evidence of money laundering.
On October 13 the male was arrested without incident.
Douglas Dale Wilde, 58, of Lethbridge, is charged with four counts each of fraud over $5,000, theft over $5,000 and one count of money laundering.
Wilde was released on an undertaking with conditions and is scheduled to appear in court November 10.
