4 men to be charged for mortgaging residential property without owner's knowledge
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.