Large fraud bust in York

York Regional Police and the Canada Border Services Agency have uncovered a $10 million fraud ring.

14 people have been arrested for allegedly laundering money, forging documents and committing passport and banking fraud.

Police searched five properties and seized several items including a pontoon boat, $50,000 in cash, foreign passports, official government stamps and equipment used to forge documents.

Police are holding a news conference Thursday to release further information.