OTTAWA -- Ottawa police are asking for the public's help in locating a 57-year-old man whom they accuse of defrauding two local banks.

In a release, police said they received a complaint in March 2020 about a business owner who ran a car service garage regarding suspicious use of business bank accounts and lines of credit.

Police allege that the man used the accounts to defraud the two banks out of more than $690,000 in January 2020 before closing his business. Part of the scheme involved the deposit of high valued business cheques, police said.

Nejat Kakamad, 57, of no fixed address, is wanted on charges of fraud over $5000, possession of property obtained by crime, and laundering Canadian proceeds of crime.

Fraud Unit investigators believe that Kakamad is in the Ottawa area. He also goes by the first name of Shawn. He may be driving a white 2019 Cadillac Escalade.

Anyone with information regarding this investigation is asked to call the Fraud Unit at 613-236-1222, ext. 5460.

Anonymous tips can be submitted by calling Crime Stoppers toll-free at 1-800-222-8477 (TIPS), or