A Don Mills lawyer and at least one bank employee are allegedly involved in a $1.8 million fraud involving 77 gold bars.

Toronto Police raided a home on Mount Pleasant Rd. in Rosedale Thursday and arrested five people who are to appear in court June 9, Det.-Sgt. Cameron Field said.

There were two earlier arrests and more are expected, he said.

No gold was recovered in the raid, Field said.

To date, only one bar has been seized. It had been sold to a jeweler who in turn called police. The Canadian Bankers Association is offering a $50,000 reward for information leading to the conviction of any suspects and the recovery of the gold.

The fraud case was launched Feb. 12, a few days after a stolen bank draft worth $1,895,751 was used to buy the 10-ounce Perth Mint gold bars in Montreal.

The gold bars bear the symbol of The Perth Mint, Australia, on the front with kangaroos on the back.

Attempts were made to move some of the bars, but jewelers and gold dealers turned them away, sources say.

“We definitely know the gold is out there,” Field said.

Remy Boghossian, 44, of Pickering, a lawyer who was admitted to the bar in 2001 after graduating from York University and Osgoode Hall, has been charged along with Natasha Sukh, 29, of Ajax, and Siva Suthakaran, 45, Raffi Ebrekdjian, 51, and Garnet Marziliano, 29, all of Toronto.