SARANAC LAKE -- A Saranac Lake man is charged with embezzling $7,000 from his employer.

Saranac Lake Village Police said that as the result of a lengthy police investigation, James M. Loso, 37, was charged with three counts of second-degree forgery, three counts of second-degree criminal possession of a forged instrument and third-degree grand larceny, all felonies.

Further charges are pending, police said Tuesday.

Neither Saranac Lake Police Chief Richard DePuy nor Franklin County Assistant District Attorney Jack Delahanty would name the local company allegedly victimized in a series of thefts, saying the investigation is ongoing and more arrests are possible.

The business owner discovered Loso had written unauthorized checks totaling $7,000 between March and May, police said.

Loso was arraigned and sent to Franklin County Jail in lieu of $5,000 cash bond or $10,000 bond.

He was still in jail Tuesday, DePuy said.

The matter will go before a Franklin County grand jury.

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