An accountant in Canmore is facing new charges related to a multimillion-dollar fraud investigation by RCMP in the mountain resort town.

James Russell Neilson, who is 49, was charged last May with three counts of fraud over $5,000, one count of theft over $5,000 and one count of laundering the proceeds of crime.

Police say the latest charges against Neilson are related to his involvement with Abaca Solutions.

They include fraud over $5,000, uttering a forged document and laundering the proceeds of crime that allegedly occurred between January 2009 and October 2014.

Investigators suspect the accountant defrauded nearly 40 people of approximately $5.5 million.

Neilson, who lives in Canmore, was released following a bail hearing and will appear in Canmore provincial court on Feb. 17.