Two men are facing a series of charges after an investigation into a local business led to the discovery of a more than $1 million fraud.

In August of 2023, a local business reported to police they have been the victim of large theft. The Regina Police Service’s (RPS) financial crimes unit launched an investigation.

After more than two years of investigating, two suspects were charged – one of them being a former employee of the business.

The investigation revealed that between 2021 and 2023, the former employee had sent several unauthorized payments to himself, as well as the second subject.

Police determined he also used company funds to make payments on a vehicle loan, rent, and to pay off credit cards.

The former employee had overseen the company books and accounting duties, according to police.

As a result, a 53-year-old man was arrested in Calgary and charged with fraud over $5,000, laundering the proceeds of crime and theft over $5,000.

Additionally, a 72-year-old Saskatoon man is charged with fraud over $5,000, laundering the proceeds of crime and possession of property obtained by crime over $5,000.

The 53-year-old made his first appearance in Regina Provincial Court on March 10, while the 72-year-old is set to make his first appearance on March 26.

According to RPS, in 2025 police received 1,081 reports of fraud, including identity theft. The total marked a 33 per cent increase from the year previous. Reported losses totalled $11,973,000 – which does not include a single investigation of a $10 million loss due to fraud.