A 50-year-old Markham woman has been arrested in connection with fraudulent mortgage and investment services involving newcomers who didn't speak or read English.
York Regional Police began an investigation in November 2022 after receiving information about a suspect representing herself as a mortgage broker, according to a news release.
Investigators determined that from 2016 to 2021, a suspect engaged with several victims who were newcomers that didn’t speak or read English, and were seeking investment opportunities and real estate properties.
The victims typically attended a law firm in Mississauga to sign documents they believed to be joint investment opportunities. It was later discovered second mortgages had been registered on their homes and money withdrawn from their bank accounts.
Investigators believe there are additional victims who have not yet come forward and they are being encouraged to do so.
Po Yuk “Peggy” Chan is charged with fraud over $5,000 x5, possession of property obtained by crime over $5,000 x5, and false pretence – obtain credit by fraud x5.
If you have been a victim of a fraud, and have lost money, report the incident promptly to the York Regional Police Financial Crimes Unit either online or by calling 1-866-876-5423. To report frauds where no money has been lost, contact the Canadian Anti-Fraud Centre online or by calling 1-888-495-8501.
