Police have charged 42-year-old Kamanashis Deb with 17 counts of fraud over $5,000. Debashis Deb, 36, was charged with two counts of fraud in January.
The records identify Kamanashis Deb, 42, as the man charged with 17 counts of fraud over $5,000. He was arrested on Wednesday.
Court documents show that seven of the charges pertain to alleged fraud against Bank of Montreal, nine pertained to alleged fraud against Affinity Credit Union and one pertained to alleged fraud against CIBC.
You are reading: Affinity, BMO, CIBC hit in alleged Saskatoon mortgage fraud: court docs
According to the court documents, the incidents are alleged to have happened between November 2018 and March 2021, the last incident involving CIBC allegedly being defrauded.
Affinity Credit Union declined to comment since the matter is before the courts. The StarPhoenix has reached out to Bank of Montreal and CIBC for comment.
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Saskatoon police on Wednesday had said that their two-year investigation began after they received a report that falsified banking documents were submitted with several mortgage applications at a local bank.
In its media release, police said its investigation traced the documents to mortgages submitted by two realtors and eight applications with false documents were discovered at one institution.
Police then searched three locations and said the search resulted in the seizure of more fraudulent documents connected to mortgage applications at other financial institutions.
Saskatoon police told the StarPhoenix in an email that all charges involved mortgages for different people, but there were a couple of instances where the same mortgage application was used for more than one financial institution. Police say investigators found 17 successful and attempted mortgage applications.
According to his LinkedIn profile and posts on his Facebook page, Kamanashis Deb had worked for Royal LePage Varsity.
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An employee at Royal LePage Varsity’s office who answered the phone on Friday said they have no comment.
In a January 2011 Regina Leader-Post story, Kamanashis Deb, was part owner of restaurants in Osler and Waldheim. Originally from Bangladesh, he first moved to Montreal and then in 2006 to Saskatchewan. He told the Leader-Post he had trained in tourism, hotel management and food preparation in Switzerland. He took a job at a restaurant in Osler and then, with a partner, bought the restaurant.
Court records identify a second man charged in connection to the case as Debashis Deb, 36. He was charged with two counts of fraud over $5,000 following his arrest in January.
An online employee profile page which had identified him as a salesperson/Realtor with Royal LePage Varsity now no longer exists. When contacted on Wednesday, an employee at Royal LePage Varsity’s office who answered the phone said they have no comment.
Kamanashis Deb is expected to appear in Saskatoon provincial court on April 17. Debashis Deb is expected to appear in court on April 4.