Four charged in second mortgage scam

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Milton, February 26 (CINEWS): Recently it surfaced that an elderly couple ended up paying legal fees and interest in excess of 60 per cent on a second mortgage. Four men have been charged with the offence of Criminal Interest Rate. They are: Diljit Singh, 61, Kirin Singh, 38, Sundeep Singh Saggu, 37 and Jason Bogle, 36, of Toronto.
All four individuals are scheduled to appear in Milton Provincial Court April 4, 2016.
The incident came to light by chance when police investigated an elderly Milton couple who claimed they were defrauded by an international phone-based lottery scam.
Then earlier this month the couple received a phone call from a local real estate broker who offered to arrange a second mortgage.
Police say the broker arranged for the couple to work with a mortgage agent and local lawyer who were both affiliated with the lending company Ki Lending, based in Woodbridge.
It is alleged that the private lender for the mortgage was the mother of the real estate broker. In processing the private mortgage agreement, the couple were allegedly charged supplementary borrowing costs, legal fees and interest in excess of the criminal interest rate of 60 per cent.
Police do not think the people facing charges are affiliated with the lottery scam that originally defrauded the victims.

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