Major mortgage fraud investigation – police seek help

Authorities release photos of suspects in a complex fraud case

Major mortgage fraud investigation – police seek help

Toronto police have called on the public to identify two suspects in what it called a complex mortgage fraud investigation.

The suspects (pictured below) allegedly sold a Toronto home using falsified identification to pose as the owners. The actual owners left Canada for overseas work in January 2022, and received information months later that their home has been sold without their knowledge.

New owners have since taken possession of the home, police said.

Paul Baron, president of the Toronto Regional Real Estate Board, said that per the Real Estate & Business Brokers Act and the Trust in Real Estate Services Act, brokerages are under obligation to undertake due diligence when taking on clients. This includes using the land registry service to verify a property’s ownership.

“By law, registrants who trade in real estate are required to use their best efforts to prevent error, misrepresentation, fraud or any unethical practice in respect of a trade in real estate,” Baron said.

“We are mindful of the fact that those who trade in real estate can also fall victim to fraud, as it appears to be in this case of individuals impersonating homeowners, which then becomes a matter for law enforcement or the police.”

Investigators called on members of the public with information on the suspects to contact the police at 416-808-7310, or through Crime Stoppers.