The Ontario government announced on Thursday a set of measures aimed at cooling Toronto’s booming housing market, including a tax on foreign buyers who’ve been blamed for speculation. The province’s securities regulator also accused Home Capital Group, an alternative mortgage lender, of making misleading disclosures, sending its shares tumbling.
The Ontario Securities Commission alleged that Home Capital’s former officials made “materially misleading statements” and failed to comply with other securities rules. “I think a lot of this mortgage fraud in Canada has been covered up and you’re now starting to see tips of various icebergs hitting the boat,” said Marc Cohodes, an investor who’s betting against Home Capital’s stock.
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This article is summarized by Canadian Fraud News Inc.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.
