The accused was charged with four counts of fraud over $5,000 arising from two real estate transactions involving Toronto properties.
The Crown alleged the accused orchestrated mortgage fraud schemes using straw purchasers and falsified financial documentation to obtain mortgage funds from a bank, which were insured by a federal housing corporation.
The court found that the purchasers lacked the financial means to service the mortgages and that fraudulent employment and financial documents were submitted to secure financing.
Evidence demonstrated that the accused directed the transactions, received substantial proceeds from the mortgage funds, and facilitated the discharge of existing mortgages on the properties.
The court concluded beyond a reasonable doubt that the accused knowingly participated in and benefited from the fraudulent schemes.
