Charges in mortgage fraud investigation
Following a year and a half long investigation, the Calgary Police Service Economic Crimes Unit has charged a local lawyer and a former mortgage broker in relation to a multi-million dollar financing fraud.
In June 2012, a couple agreed to sell a house in Calgary for more than $2 million. After negotiations and completing the sale, the money was provided to a lawyer to be held in a trust account until all of the conditions regarding the sale were satisfied. In December 2012, all of the sale conditions had been fulfilled and the money was to be released to the seller of the property. However, when the sellers attempted to contact the lawyer they discovered he had left the province, taking all of their money with him.
In addition to that specific case, between June and December of 2012, a local lawyer and mortgage broker allegedly defrauded seven property owners through mortgage bridge financing. Together they allegedly obtained personal information from property owners and subsequently approached investors under the pretense that funding was required for bridge financing. Investors provided funds with the understanding that the money would receive their initial investment back plus interest. However, the lawyer left the province and most of the money paid by investors went missing.
It is believed the culprits made off with more than $3 million in relation to the numerous bridge financing schemes.
Floyd CAMPBELL, 46, of Calgary, has been charged with 15 counts of theft over $5,000, and 15 counts of fraud over $5,000. He will next appear in court on Friday, July 17, 2015.
CAMPBELL was also disbarred by the Law Society of Alberta on Monday, April 13, 2015.
Brandon ANTONINI, 43, of Calgary, has been charged with 14 counts of theft over $5,000 and 15 counts of fraud over $5,000. He will next appear in court on Tuesday, June 9, 2015.
Mr. ANTONINI’s applied to withdraw his mortgage broker license from the Real Estate Council of Alberta (RECA) in April 2014. At the time of his application, he was the subject of conduct proceedings. RECA approved Mr. ANTONINI’S application to withdraw, which resulted in a voluntary lifetime prohibition from industry membership.
Anyone with information about this case is asked to call the Calgary Police Service non-emergency line at 403-266-1234 or Crime Stoppers anonymously using any of the following methods:
TEXT: tttTIPS to 274637
Case # 12477531/13237731/2891