Mortgage Fraud, Financing Fraud, Borrowing and Lending Problems
Mortgage fraud is a broad term that encompasses a host of borrowing and lending problems that can lead to charges under the Criminal Code of Canada or other regulatory laws.
Mortgage fraud is traditionally a fraud in relation to securing lending for real property, where a lien or charge is registered against the property as security against the monies lent. The mortgage fraud can arise in many ways, the most common being a fraudulent misrepresentation made by one party in the mortgage transaction to the other party. It does not necessarily have to be the borrower that is charged with mortgage fraud, although that is the most common scenario. Some examples of conduct that can lead to mortgage fraud charges are uttering forged or fake documents to support a mortgage application, presenting false identification to a lender, or failing to disclose essential details or lying about them.
When the fraudulent conduct described above is in relation to any other type of borrowing or lending transaction, the matter is considered a financial fraud, although not specifically a mortgage fraud. Any fraudulent misrepresentation made in relation to securing credit is potentially a financial fraud, and can lead to charges under the Criminal Code. While it is possible for either party to the transaction to commit a financial fraud, the more common scenario is the borrower. Similar to the mortgage fraud scenario, conduct that can lead to financial fraud charges are uttering forged or fake documents to support the credit, presenting false identification to a lender, or failing to disclose essential details or lying about them. Financial fraud is a generic term. It can occur in any transaction where property (money, a car, machinery, equipment, labour, services, etc.) is acquired for credit or payment, and one party has deceived the other.
If you find yourself facing any type of fraud charge, whether it is mortgage fraud, financial fraud or any other type of fraud, you should consult with a lawyer immediately.
Or office has experience in dealing with a wide range fraud offences. We are available and ready to help. Call anytime to arrange and appointment.