CBCNews – Carolyn Dunn – BMO Settles With Most In Alberta Mortgage Fraud Lawsuit – 160 Parties Were Sued Over Alleged Mortgage Fraud – 4 June 2013

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The Bank of Montreal has settled with all but a handful of the 160 parties it sued in connection with a sprawling case of alleged mortgage fraud in Alberta, CBC News has learned.

The bank first detected a problem in 2006, when bank officials detected “irregularities” in some mortgages. Forensic accountants were hired to review the transactions, and the bank ultimately sued hundreds of people in connection with the alleged fraud.