A special investigative detective, trained in financial crime and fraud, has been assigned by the South Simcoe Police Service to review fully supported allegations of usury, or loansharking, that were committed in Innisfil.

When advising us of his decision "I have undertaken to have this thoroughly reviewed by our fraud investigator", Inspector Fernandes of the South Simcoe Police Service described the specialist detective as ". . . has extensive training and experience involving high level, high monetary value, and complex fraud investigations . . ."

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The indictable offence, which is punishable by five years in prison, is established to have been committed by Renee Dadswell, a mortgage broker at Verico the Mortgage Station, with assistance from her colleagues David Flude and Lisa Purchase. It is alleged that this team charged 120% interest on a loan while arranging a mortgage, which is an offence under Section 347 of the Criminal Code of Canada.

These brokers are frequently entrusted with handling the life savings of vulnerable seniors who purchase a CHIP Reverse Mortgage. We recommend that if you have had dealings with Verico the Mortgage Station, you should have your paperwork reviewed by an expert, with a specific focus on the service fees and lending rates charged.

If you have a story to tell, about Verico the Mortgage Station or any of the perpetrators listed above, please contact our Producer at 705-828-5605.