Toronto Police have laid charges against a 30-year-old man allegedly involved with a moving company that they say defrauded and extorted its customers.

The accused is facing two charges of fraud over $5,000, two counts of possession of property obtained by crime over $5,000 and one count of extortion. Police allege he played a "significant role" in the operation but do not believe he acted alone.

Investigators say the company defrauded several customers by grossly exaggerating load weights and attempted to extort them by holding their possessions out-of-province.

As part of an operation called "Project Haul," Toronto Police, the RCMP and the Ministry of Government and Consumer Services searched a property registered to a moving company in Scarborough on May 17.

Inside, investigators found the possessions of two families who had hired the company for cross-country moves from Alberta to eastern Canada.

One family was initially quoted a $2,700 moving fee, but was later asked to pay $14,000 after the company allegedly provided an inflated load weight, said Insp. Ian Nichol of the Toronto Police financial crimes unit.

When the family contested the new price, Nichol said the movers threatened to destroy the property.

"By threatening to destroy it, we're alleging it's extortion," he said.

"In this case we're alleging there was never any intention whatsoever on behalf of the accused to actually follow up on these contracts they agreed to," he said.

Police say there are likely more victims — predominantly outside Ontario — who have not yet come forward.

The accused is due to appear in court on July 4.