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Wednesday, May 05, 2010 

RCMP Called In To Investigate Huge Alberta Mortgage Fraud - Conservative MP involved?

The Bank of Montreal has initiated civil suits against hundreds of individuals in what they are calling a massive mortgage fraud case in Alberta. The civil suits are intended to recover millions of dollars lost in a scheme that seems to have been a well organized conspiracy to massively inflate property values prior to mortgage applications.

It now appears that the Royal Canadian Mounted Police are also investigating to see whether criminal charges will be laid.

CBC is reporting that Calgary Conservative Member of Parliament, Devinder Shory is being sued by the Bank of Montreal for his alleged involvement in the case.

-CTV News
-CBC News

Progressive Bloggers

It's reassuing to know that RCMP & CCP are going ahead with a criminal investigation in this case. It would be even more reassuring if once convicted that these fraudsters would be ordered to foot the bill for any and all costs incurred to the Canadian taxpayer. Seizure of material gains and subsequent deportation where applicable would be felt by these yahoos and refreshing for honest hardworking Canadians.

Truly, mortgage fraud is becoming a serious problem. It is very depressing that hundreds of individual are involved in this scheme. Fortunately, the Bank of Montreal was able to discover it. In addition, it is reassuring that the Royal Canadian Mounted Police are doing their best in investigating the case. For people to avoid mortgage fraud it is ideal to seek the help of a licensed
mortgage broker Calgary, Alberta based in assisting them in finding an appropriate loan agreement.

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