Niagara Falls accountant accused of defrauding business of $200K

The Niagara Regional Police Service detachment in 1 District located in St. Catharines, Ont., Friday, March 15, 2024. THE CANADIAN PRESS/Aaron Lynett

Police in Niagara Region have laid more charges against an accountant after allegedly defrauding a business of hundreds of thousands of dollars.

Cherrel Monton-Matsugu was initially arrested in April. Niagara Regional Police said Monton-Matsugu was hired by a business to assume all accounting services, and a third-party review revealed fraud allegations.

The accused is the sole director of Ontario Incorporated 2629884 and owner of Justin Jay Tax Accounting & Advisory Services.

In an update on Thursday, police said their ongoing investigation uncovered that a commercial business had been defrauded of an amount in excess of $200,000.

As a result, Monton-Matsugu is facing new charges of fraud over $5,000, unauthorized use of a credit card, falsifying a book or documents and criminal breach of trust.

She has been released with a future court date.

“The investigation remains ongoing, as detectives suspect there may be more victims,” police said.

They are asking anyone with information to contact detectives at 905-688-4111, option 3, extension 1009133.