According to Lae Police boss, Anthony Wagambie Jnr, the three men have been carrying out their activities for more than five years.
He said they used company cheques to either do large orders from wholesale shops or stationary
He added that they also used company cheques to do Pay Cash cheques and withdraw money from the bank without the company management’s consent.
“The cheques were forged and this happened to various companies and organizations and it was done discreetly with the three getting away with it without being detected and companies found that their balance had for some reasons been debited,” Wagambie said.
Wagambie said police have been monitoring them for some time and eventually moved in to arrest them.
Two of the suspects are unemployed whilst one was an accounts receivable clerk for a major supermarket, all married and with children.
The suspects were apprehended at various locations within the city after being monitored by detectives of which one tried to make a run for it from his house but was chased down by police and apprehended.
Two of the suspects have been charged on two counts of fraud on various occasions and have been granted bail by the Lae District Court on their appearance.
The other has been arrested and charged on five counts including more than K400, 000 of a major food processing company.
Goroka Fraud Squad also travelled to Lae to lay charges as he is also wanted both in Lae and Goroka and is currently remanded at Buimo CS.
Wagambie commended his investigators for a job well done in locating the three suspects and apprehending them.
“There are syndicates like this who commit crimes on unsuspecting companies and individuals,” he said.