The RCMP has laid charges against 13 Toronto area men in what's being described as a complicated two-year investigation of a fraud scheme valued at $4 million.

Commercial crime investigators from the RCMP began an investigation in 2008 after Industry Canada alerted them to anomolies in small business loans. (Daniel Hayduk/Canadian Press)Commercial crime investigators were called in by Industry Canada in 2008 after the government agency found a number of anomalies in small business loans intended for the purchase of equipment and upgrades to leased buildings.

Investigators believe money from the loans was not used for those purposes, and that the loans were made based on fraudulent and forged documents.

Over the course of the investigation, police searched 50 bank accounts and viewed thousands of documents.

A total of 64 fraud-related charges have been laid under the criminal code and the Canada Small Business Financing Act.

The bulk of the charges were laid against 38-year-old David Scenna. He faces 22 charges including 19 under the Canada Small Business Financing Act.

If convicted, the accused could face up to 10 years in prison and a fine of up to $500,000.

The men will appear in court in Brampton, Ont., on Sept. 16.