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Rosedale raid linked to $1.9M gold bar theft: police

Police say a raid they carried out at a Rosedale home is linked to a fraud investigation involving stolen gold bars.

The ETF conducted a number of searches Thursday morning, including one at a home on Mt. Pleasant Road, north of Bloor Street, where it arrested five people.

Police charged the Toronto and Ajax-Pickering residents with fraud over $5,000, conspiracy to commit an indictable offence, and possession of property obtained by crime. Raffi Ebrekdjian, 51, is also accused of heroin possession. They are due in court on June 6.

Last month, two men – Senthuran Kanapathipillai, 32, and Thevarajah Thambipillai, 55, of Toronto – were arrested and charged with possession after one tried to sell a 10-oz. Australian gold bar to a company in the city.

The bar, made by the Perth Mint, was one of 75 bought in Montreal using a $1,895,751 bank draft obtained by fraud, according to police. They bear the Mint’s symbol on one side and kangaroos on the other.

The bulk of the loot is still missing and the Canadian Bankers Association is offering a reward of as much as $50,000 for tips leading to its recovery.

Anyone with information is asked to call police at 416-808-7300 or Crime Stoppers anonymously at 416-222-TIPS (8477).