4 men to be charged for mortgaging residential property without owner's knowledge
Four men between the ages of 27 and 39 face court charges on Tuesday. They are accused of participating in a fraudulent mortgage scheme. The group allegedly used a residential property as collateral without the owner's consent. Police arrested the suspects during operations held on April 14 and 15. The victim first noticed the issue on April 3 after discovering an unauthorized caveat on the property. This caveat was linked to a loan application the owner did not approve. Investigations found that the suspects used fraudulent documents to apply for the loans.
A total of four men, aged between 27 and 39, will be charged in court on Tuesday (Nov 10) for their alleged involvement in a fraudulent mortgage scheme that involved the use of a residential property without the rightful owner's knowledge.Police said in a news release on Monday (Nov 9) that the four men were arrested during a two-day operation on April 14 and 15.The case came to light on April 3, after the victim discovered that a caveat had been lodged against his property in connection with a loan application that he had not authorised.Preliminary investigations later revealed that fraudulent documents had been used to apply for mortgage loans, with the victim’s property used as a collateral.The quartet had purportedly worked with another man with the intention to fraudulently obtain mortgage loans of more than $6 million from two credit companies — using the property as a collateral.As part of the scheme, the 39-year-old man allegedly impersonated the victim and used forged identity documents to facilitate the loan applications.