Edmonton auto dealership accused of fraud, money laundering: RCMP

KO Auto Finance in Edmonton. (Source: Facebook)

Four people tied to an Edmonton car dealership have been charged with fraud after an RCMP investigation.

The Edmonton RCMP auto theft unit began an investigation in October into a person that had obtained three fraudulent vehicle loans.

As part of the investigation, RCMP say it came to light that KO Auto Finance, an Edmonton car dealership, and its owners were allegedly involved in fraud and money laundering through the dealership.

• Sign up for breaking news alerts from CTV News Edmonton, right at your fingertips

Police say the owners acquired vehicle loans through three financial institutions by using forged documents.

The money from the loans was used for personal expenses and investments, according to police.

On Thursday, three people were arrested with help from the St. Albert RCMP.

An arrest warrant has been issued for a fourth.

A 28-year-old Edmonton man and a 37-year-old Edmonton man have been charged with fraud over $5,000 and money laundering.

A 32-year-old Edmonton man has been charged with fraud over $5,000, uttering a forged document and forgery.

A 26-year-old Edmonton man has been charged with fraud over $5,000 and forgery.

The three men who were arrested were released on conditions and are scheduled to appear in court in Edmonton on March 31.