Four Bagged On Charges Of Scamming Financially Strapped Elderly Couple w/ Private 2nd Mortgage Secured By Their Home Bearing Usurious Interest In Excess Of 60%

In Milton, Ontario, the Milton Canadian Champion reports:

• A Milton couple was allegedly the victim of a scam involving a second mortgage that included legal fees and interest in excess of 60 per cent.
  
  That figure is above the criminal interest rate — resulting in charges laid by Halton Regional Police Fraud Unit.
  
  The incident began in February 2015, when police investigated an elderly Milton couple who claimed they were victimized by an international phone-based lottery scam.
  
  They were allegedly defrauded of a significant amount of their finances in the past three years, leaving them in financial distress.
  
  Police found out that the couple received a phone call in February 2014, from a local real estate broker, who they claim was unaware of their financial hardship. The broker offered to arrange a second mortgage.
  
  Police say the broker arranged for the couple to work with a mortgage agent and local lawyer who were both affiliated with the lending company Ki Lending, based in Woodbridge.
  
  It is alleged that the private lender for the mortgage was the mother of the real estate broker. In processing the private mortgage agreement, the couple were allegedly charged supplementary borrowing costs, legal fees and interest in excess of the criminal interest rate of 60 per cent.
  
  Police do not think the people facing charges are affiliated with the lottery scam that originally defrauded the victims. Charged with the offence of Criminal Interest Rate are: Diljit Singh, 61, of Milton, Kirin Singh, 38, of Mississauga, Sundeep Singh Saggu, 37, of Woodbridge and Jason Bogle, 36, of Toronto.
  
  All four individuals are scheduled to appear in Milton Provincial Court April 4, 2016.

Source: Milton man among four charged in mortgage loan scam.