Two-year investigation into mortgage fraud leads to arrests

Two people are facing fraud charges after a long investigation into mortgage applications that allegedly included falsified documents.

According to police, the two-year investigation began on March 1, 2021 after a report of “falsified banking documents that were submitted with several mortgage applications, at a Saskatchewan banking institution.”

Police said the falsified documents were traced back to mortgages submitted by two Saskatoon realtors.

“A total of eight applications, with false documents, were discovered at one financial institution,” police said in a statement.

Officers later executed search warrants at locations on Palliser Court, McClocklin Road and Eighth Street East. Police said those searches turned up even more fraudulent documents connected to mortgage applications at “several other financial institutions.”

On Jan. 9, a 36-year-old man turned himself in to police. He’s now facing two charges of fraud over $5,000, police said.

Then, on Wednesday, police said a 42-year-old man was also arrested at police headquarters. He’s facing a total of 17 counts of fraud over $5,000.

–Editor’s Note: This story has been updated to correct the ages of the two men arrested, following a correction issued by the Saskatoon Police Service.