Police charge Markham, Ont., woman in alleged serial mortgage fraud

York Regional Police say they've charged a 50-year-old woman with multiple mortgage fraud-related offences, and allege she defrauded victims who did not speak English and were new to the community.

Markham woman Po Yuk Chan, who is known as "Peggy," was arrested and charged on Sept. 5, police said in a news release Monday.

She was charged with five counts of fraud over $5,000, five counts of possession of property obtained by crime over $5,000, and five counts of obtaining credit by false pretence. 

The force says it began an investigation in November 2022 after receiving information that someone was representing themselves as a mortgage broker.

Between 2016 and 2021, Chan engaged with victims who were new to the Greater Toronto Area and were seeking investment opportunities or real estate property, police said.

"The victims typically met the suspect at a law firm in Mississauga where they signed documents that the victims believed to be for joint investment opportunities," police said. Investigators later found that Chan allegedly registered second mortgages on victims' homes and withdrew money from their bank accounts. 

Police searching for more victims

Const. Maniva Armstrong told CBC News that a common thread between the victims was none of them could speak or read in English.

"There was some paperwork and some things that were transferred and signed where the victims didn't have a clear understanding of what was written down on these forms," Armstrong said.

While several alleged victims have reported Chan to law enforcement, police said they believe there could be more.

"We are urging all of those victims to please contact York Regional Police," Armstrong said. The investigation is ongoing, police said. 

Chan's lawyer, David Myers, told CBC News in a statement that "at all material times" his client was a licensed broker.

"The stories of various plaintiffs have changed over time since their complaints began, and they have dropped what I would say are the most serious allegations as more and more evidence has come out," Myers said.

Victim says Chan befriended her, stole $330K

CBC Toronto previously reported on six alleged victims of Chan who are suing her in civil court. All are part of the Chinese community. 

One alleged victim, Yan Ting "Tina" Li, said she became friends with Chan over a period of two years and frequently hosted her for dinner with her family. She alleges that Chan stole about $330,000 from her.

York Regional Police said anyone who has been a victim of a fraud and lost money should contact its financial crimes unit either online or by calling 1-866-876-5423.

The Canadian Anti-Fraud Centre can be contacted if no money has been lost.