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.