It took years, but Toronto Police were finally able to lay charges against those involved in bridle-path fraud scheme. The scheme has been going on since 2013 and has been using fake home ownership papers to get mortgage money.
A man from Toronto was recently sentenced to a 5-year prison stay for claiming about $1 million in fake tax refunds.
According from the CRA, Toronto resident Alexander Wiafe filed 8 quarterly GST/HST returns and claimed refunds for expenses that were fraudulent or fictitious. He fraudulently claimed almost $1 million worth of Goods and Services Tax and Harmonized Sales Tax refunds for about a year.
Anyone who has moved houses can attest as to how stressful a move can be. There?s always the chance of forgetting some valuable items, bills to settle, packing, unpacking, and getting used to your new neighbourhood. Being extorted by the moving company you hired to make your life easier certainly isn?t one of the stresses you?re expecting to handle when you make your move!
David Franklin, a real estate lawyer from Toronto believes that Ontario investors have lost more than $1B of their investment money in syndicated mortgages. A CBC news report recently shared that 120 Chinese investors in the GTA stand to lose about $9M in investments like these and David Franklin adds that this news is just a small fraction of what?s going on.