A 53-year-old man from Johnsons River, P.E.I., is facing fraud charges in a case involving more than $3 million.

Kenneth Walter Lawrence is accused of defrauding the Royal Bank of Canada out of $3.6 million.

The charges are connected to transactions Lawrence is accused of making between January 2011 and December 2012, when he worked at Discount Car Rentals on the Brackley Point Road in Charlottetown.

Deputy Chief Richard Collins, with Charlottetown City Police, said Lawrence is scheduled to appear in provincial court on Oct. 17.

"The fraud centres around, in a general context, providing false vehicle information to obtain funds from the Royal Bank of Canada. The forensic audit has been completed, search warrants have been executed," he said.

Collins said police began their investigation after receiving a complaint from Price Waterhouse, on behalf of the Royal Bank.