A Munds Park man has been arrested on fraud charges after employees at a Flagstaff bank discovered a fake-check cashing scheme involving more than $100,000.

According to a complaint filed in Flagstaff Justice Court, 51-year-old Michael A. McClain III is accused of fraud schemes, forgery, attempted theft, criminal possession of a forgery device, attempted theft and computer tampering.

The complaint alleges that McClain created and passed bad checks and temporarily took possession of illegally obtained proceeds.

Flagstaff police say employees at First State Bank discovered the scheme on Sept. 16. Two checks -- one for $50,000 and the other for nearly $57,000 -- were cashed into the account of a company and the checks were later found to be bogus.

Police say McClain was arrested Saturday and is being held in the Coconino County jail in lieu of $200,000 bond.