RCMP Charge Mississauga man with mortgage fraud

TORONTO, Sept. 28 /CNW/ - The RCMP Greater Toronto Area Commercial Crime Section charged a Mississauga area man with Criminal Code offences relating to mortgage fraud.  The investigation which led to the charges was initiated after Canada Mortgage and Housing Corporation (CMHC), the Federal Government's national housing agency, reported concerns with certain mortgage transactions in the GTA.

Investigators found the circumstances surrounding two of the reported mortgage transactions to be consistent with contrived business arrangements whose apparent objective was to defraud the banks and the Government of Canada. It is alleged the accused supplied paid "nominees" with fraudulent supporting documents who used their real names and credit history to apply for mortgage loans.  The two loans, totaling in excess of $700,000, ultimately went into default.

Four (4) charges of fraud over $5000 were laid against 45-year-old Michele FIORILLI of Mississauga Ontario.  The accused's first appearance is September 28, 2010 at the Old City Hall Provincial court house, 60 Queen Street West Toronto, Ontario.  If convicted, penalties can range up to 14 years in prison under the Criminal Code.

The Greater Toronto Area Commercial Crime Section is responsible for the investigation of allegations where criminal conduct is suspected in relation to Federal Government programs. The RCMP actively investigates abuses referred by Federal Government agencies like CMHC. "Identifying and investigating allegations of fraud in order to preserve the integrity of government programs, and the economy as a whole, continues to be a priority for us." stated Inspector Rick Whattam, Officer In Charge of the GTA Commercial Crime Section.  "This investigation represents the commitment of the RCMP working with CMHC and Canadian banks to preserve that integrity."

For further information:

Sgt. Marc LaPorte
RCMP Media Relations
[phone]