Toronto Police Are Looking For A Man Who Allegedly Stole $10M In A Mortgage Fraud Scam
A Canada-wide warrant has been issued for his arrest.
Another day, another scam that's costing people a huge chunk of their wallets. Someone allegedly stole millions in mortgage fraud scams, and Toronto police are on the lookout for him.
In a press release, authorities said there was a Canada-wide warrant for the arrest of Toronto man Yuansen Fu, 23.
Police said Fu is wanted for a mortgage fraud scam investigation totalling over ten million dollars.
Among the allegations against Fu are multiple reports of mortgage frauds that were reported to the Toronto Police Financial Crimes Unit, and he pretended to be a legit homeowner with false identification.
Police believe that Fu also worked with a female mortgage broker, and together they targeted law firms in the Chinese community.
"Investigators are advising the public, especially those in the mortgage and legal professions, to scrutinize all identification and be vigilant in confirming the identities of individuals in real estate transactions," police said in the release.
Officers warned anyone who works in the mortgage or legal professions to be on top of verifying who they are dealing with when working on real estate transactions.
Police also ask the public to be wary of people who give referrals from unknown mortgage brokers, schedule inconsistent appointments, submit online applications, and keep an eye on those who show up for meetings at different times outside of what was initially agreed upon.
Fu is wanted by law enforcement for one count of uttering forged documents, one count of fraud that exceeds $5000, and one count of conspiracy to commit an indictable offence.
Authorities believe that he is armed and dangerous. If you see him, they recommend that you don't approach him but immediately contact the police.
TPS also noted that he is known to frequently travel to Vancouver as well.
