In addition to 42 cards police had also found two laptop computers, computer memory sticks and pinhole cameras.
Though the matter was treated as a financial scam, police had discovered posters promoting Tamil Tigers when they visited the homes of two of the suspects.
The Tamil Tigers are outlawed in Canada.
While "voicing support" to the Tigers was not against the law, providing material support was made illegal in Canada last April, the newspaper said.
The newspaper quoting investigator Scot Whittemore said police was now probing whether the four men had financial ties to the Tigers, adding that it was not the first time that "crime-derived funds have been funnelled to the group".
About 200,000 Tamils are estimated to live in Canadian with