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Calgary MP accused in massive mortgage fraud

“I have done nothing wrong,” says Devinder Shory


 

The Bank of Montreal has implicated Calgary Conservative Devinder Shory in a giant mortgage scam. Shory is included in a lawsuit against several hundred Canadians, accused of being one 17 lawyers behind a “straw-buyer” fraud believed to be worth about $140 million. To carry out the scam ringleaders found the worst houses in good neighborhoods and falsely inflated their value to the bank, which would issue a mortgage worth far more then the actual dwelling. Straw buyers, usually immigrants, would then be duped into signing the mortgages for a payment between $3,000 and $8,000. The orchestrators would then pocket the cash and leave buyers in the lurch once the bank came to foreclose. The bank claims Shory funneled $3.7 million through an account linked to the fraud, and that he was involved in at least five of the straw-buyer cases. “I will defend myself vigorously against these accusations. I have done nothing wrong,” says Shory.

CBC News


 
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Calgary MP accused in massive mortgage fraud

  1. Same issue happened with Royal Bank of Canada, please investigate further.

  2. cbc is wrong as usual .BMO has not charged Shory with fraud and will not be.AP press has reported.As usual the extreme left leaning CBC continues to print lies without impunity.

  3. D. Shory is ethical and person with great moral values and i am sure all charges against him will die its own death.
    D.K. Mittal

  4. D. Shory and everyone else is ethical with great moral values till they are caught.

  5. we want more and more Money it's never enough just gotta be happy with our hard earned $$$$

    "D. Shory and everyone else is ethical with great moral values till they are caught." like that :)

  6. The bank claims it would end up providing a grossly inflated mortgage, and the ringleaders would pocket the difference.mortgage

  7. The Bank of Montreal has implicated Calgary Conservative Devinder Shory in a giant mortgage scam. Where does it say he is charged? That happens after the crown looks at the evidence > the crown charges people in Canada nobody else.

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