Police uncover mortgage fraud

Police uncover mortgage fraud

Police uncover mortgage fraud Police say they have uncovered a complex mortgage-fraud scheme. The investigation has been ongoing for 7 years and has found at least 20 properties ranging from $300,000 to $1 million are involved. The homes are in Calgary, Fort McMurray and British Columbia. False companies were set up to enable the fraudsters to falsify employment and income information. Taxpayers will ultimately pay the price of the fraud as many of the mortgages were arranged with the CMHC. Four men have been arrested in connection with this and other crimes, two of them are still in custody. 
5 Comments
  • John Van Driel 2014-12-19 11:22:17 AM
    Who were they, and what part did they play??
    Post a reply
  • Kevin 2014-12-19 11:39:26 AM
    It would be nice if we knew who they were. Are mortgage brokers involved?
    Post a reply
  • None 2014-12-19 4:02:09 PM
    All names and charges are here ... yes mortgage brokers are involved

    http://calgary.ctvnews.ca/police-cripple-organized-crime-group-involved-in-massive-mortgage-frauds-1.2153663
    Post a reply