The former chief financial officer of a Winnipeg crane company has been arrested for allegedly bilking his former employer, Litz Crane & Rigging, out of more than $4 million.
Peter Ramdath, 42, was arrested Thursday in Winnipeg.
Police say between 2012 and 2017, Ramdath abused his position and used deceptive tactics to convert company funds to his own benefit.
Officers with the financial crimes unit executed a search warrant at an East St. Paul home on Thursday, where they seized financial documents, luxury items, such as jewelry, clothing, electronics and vehicles.
Ramdath was found at a Winnipeg business at the time of his arrest. He has been charged with theft over $5,000, possession of property obtained by crime over $5,000, two counts of fraud over $5,000, falsification of books and documents, and laundering proceeds of crime.
He remains in custody.
Litz Crane & Rigging is currently suing Ramdath and previously filed for bankruptcy restructuring as a result of the incident.