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Tuesday, July 10, 2012

Mortgage Broker Charged With Fraud

A mortgage broker accused of fraud will appear in Fredericton provincial court Thursday.

William Watson Priest-Phillips of Nackawic and his company, Priest Phillips Management Corp., were charged with one count each of fraud over $5,000 and one count of uttering forged documents.

Inspector Lise Roussel, Officer in charge of the RCMP's Commercial Crime Section pointed out that  mortgage frauds have a bad effect on the real estate market and they take these crimes seriously. The charges were laid as a result of a 5 month investigation.