Provincial police have charged a former Town of Caledon employee with fraud after receiving a complaint from the town.

Police arrested Michael Beattie, 50, from Brantford on Wednesday.

He has been charged with fraud over $5,000, laundering proceeds of crime and possession of proceeds of property obtained by crime over $5,000.

The investigation is ongoing.

The Town of Caledon released a statement on Thursday that read: "The Town of Caledon’s internal financial controls, in conjunction with a corporate restructure and corresponding process review, uncovered an isolated, significant discrepancy in one business unit. The Caledon detachment of the Ontario Provincial Police (OPP) was contacted for investigation."

The accused is schedule appear in court on June 23 to face the charges.