Two charged in Montreal mortgage scam
By Paul Cherry, Montreal Gazette; Postmedia News February 5, 2012
Two Quebec men face fraud charges following an investigation by the RCMP into a mortgage scam that cost victims more than $4 million.
Kinh Ho Quan, 56, and Hermel Bosse, 58, were arrested this week on charges alleging they took part in at least 20 fraudulent transactions totalling nearly $4.5 million and bilked individuals, financial institutions and the Canada Mortgage and Housing Corp., which provides mortgage loan insurance.
According to a news release, the RCMP’s Major Fraud Unit of Commercial Crime Section of Montreal probed a total of 80 suspicious transactions worth an estimated $18 million since the investigation was launched in April 2008.
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