The Edmonton RCMP Auto Theft Unit has charged four individuals in connection with a fraudulent vehicle loan scheme and money laundering operation linked to KO Auto Finance, an Edmonton-area car dealership.
Authorities are still searching for a fifth suspect who remains at large.
The investigation, which began in October 2024, uncovered that the dealership’s owners fraudulently obtained vehicle loans from three financial institutions by submitting forged documents.
The funds secured through these fraudulent loans were then spent on personal expenses and other financial activities.
On Thursday, Edmonton RCMP, with assistance from St. Albert RCMP, arrested Karanveer Marahar, Omid Nazari, and Shaharier Alam. Police are still searching for Dilraj Marahar, who has an outstanding warrant for his arrest.
Dilraj Marahar, 28, of Edmonton, has been charged with fraud over $5,000 and money laundering.
Karanveer Marahar, 32, of Edmonton, faces charges of fraud over $5,000, uttering a forged document, and forgery.
Omid Nazari, 37, of Edmonton, has been charged with fraud over $5,000 and money laundering.
Shaharier Alam, 26, of Edmonton, faces charges of fraud over $5,000 and forgery.
Marahar, Nazari, and Alam appeared before a Justice of the Peace and were released on conditions. They are scheduled to appear in court on March 31, at the Alberta Court of Justice in Edmonton.
The Edmonton RCMP Auto Theft Unit is continuing its investigation alongside the Alberta Motor Vehicle Industry Council.
Authorities have received additional complaints about alleged fraudulent activity at KO Auto Finance and urge anyone who may have been a victim to contact their local police detachment.
Those wishing to remain anonymous can provide information through Crime Stoppers at 1-800-222-8377 (TIPS), online at www.P3Tips.com, or via the “P3 Tips” app available on Apple and Google Play Stores.
