In a news release, police allege that "TTC employees were making purchases of equipment for personal use," which was "not used for any type of work conducted by the TTC."
Today, warrants were issued in Toronto, Mississauga and Penetanguishene.
Amadeo Cuschieri, 55, faces charges of possession of property obtained by crime over $5,000, theft over $5,000, fraud over $5,000, criminal breach of trust and conspiracy to commit an indictable offence.
Maciej Zych, 49, of Mississauga, faces charges of possession of property obtained by crime over $5,000 and conspiracy to commit an indictable offence.
Dan Doron, 50, of Toronto, is charged with conspiracy to commit an indictable offence.
Steve Cuschieri, 34, of Mississauga, is charged with possession of property obtained by crime over $5,000.
Police say warrants have been issued for two other individuals.
John Barrie Mulhall, 66, of Toronto, faces charges of theft over $5,000, fraud over $5,000 and criminal breach of trust.
Lorenzo Lamanna, 56, of Uxbridge, faces charges of theft under $5,000 and fraud under $5,000.
The TTC’s chief executive officer, Andy Byford, issued a statement expressing "profound disappointment" about the charges laid against "three current and former TTC employees."
"These arrests and charges come after a lengthy internal investigation by the TTC's own internal forces. The investigation into this matter continues, with more arrests and charges to follow," Byford said in his statement.