Three people have been charged in a massive mortgage fraud case in Alberta. Two men from Alberta, and one from B.C. are being charged with a variety of offenses in connection to fraudulent mortgage dealings. The case was investigated over a six year period and involves 97 properties and 15 mortgage lenders.
How did these alleged fraudsters do it? They approached other individuals to get a mortgage for them.
I think this case brings up a good opportunity to discuss this sort of thing. If you are ever approached to do something like this, don’t! It might sound like a good idea, perhaps maybe even too good to be true. Heed your Mother’s advice, “if it’s too good to be true, it probably is”. Mom always knows best!
This sort of thing is no joke and these schemes create very significant losses for the mortgage lenders and other victims involved.