Montreal police arrest suspected leader of real estate fraud network
Posted February 10, 2025 5:21 pm.
The Montreal Police Service (SPVM), with the help of Interpol and Spanish authorities, arrested a 36-year-old suspect in Málaga, Spain, accused of leading a real estate fraud network that targeted Montreal properties.
The suspect was returned to Montreal last Friday and appeared in court the next day to face charges of fraud, conspiracy, and criminal offenses related to stolen funds.
This arrest is the 18th in an investigation that began in 2021 into frauds totaling over $5 million.
In 2023, 17 people were arrested for their involvement. The scheme involved using fake IDs to impersonate property owners, open fraudulent bank accounts, and secure loans to withdraw funds from mortgage-free properties in Westmount, Beaconsfield, and Nuns’ Island.
Police say to prevent similar fraud, professionals such as notaries and real estate agents should be cautious of clients who appear rushed or avoid in-person meetings. They should carefully verify identification, ask for additional documents when necessary, and be particularly vigilant when a power of attorney is involved. SPVM say it’s also important to be wary of clients who don’t inquire about loan terms or fees.
