Wednesday, May 05, 2010

The Broad Strata Fraud Gang

CBC News is reporting on a massive mortgage fraud involving hundreds of properties and tens of millions of dollars. While mortgage fraud is nothing new the fact that proceeds of this criminal activity appears to be leaving Canada for some interesting destinations is.

During its investigation, bank investigators seized records that showed millions of dollars from the alleged scheme have been transferred to such countries as Lebanon, India, Saudi Arabia, the United Arab Emirates and Pakistan.

It makes one wonder what the pilfered funds were ultimately used for by this broad strata of Canadian fraudsters.



Anonymous said...

The massive cost of immigrant crime at every level must overshadow any good most immigration has done for this country in decades. I'm still for reducing immigration, encouraging Canadians to have families and moving toward a prosperous future. (real conservative)

syncrodox said...