The insured private lender loaned money to a borrower who was employed in the office of the lawyer acting on the mortgage transaction. The borrower was responsible for completing the transaction including registering the insured mortgage. The borrower never registered the insured mortgage, but instead prepared falsified documents to make it look like they were registered. The borrower later used "clear title" to obtain another mortgage with an institutional lender and did not register that mortgage either.
Action:
We retained a lawyer to represent the insured private mortgagee who, in co-operation with counsel for the institutional lender, obtained a court order to freeze certain assets and negotiate the sale of properties owned by the fraudulent borrower in order to repay the loans.
