Former realtor allegedly involved multiple financial institutions in an extensive scheme
A former Saskatoon realtor who has previously garnered multiple awards from various organizations has been charged by police with 17 counts of mortgage fraud after a two-year investigation.
Kamanashis Deb, who worked at Royal LePage Varsity for over a decade, allegedly involved multiple financial institutions in an extensive scheme.
Affinity Credit Union, one of the lenders affected by Deb’s fraud, said that the scheme included the use of fake employment letters to inflate mortgage applicants’ incomes.
The Saskatoon Police Service launched the investigation on Deb back in March 2021, when it received reports of “falsified banking documents that were submitted with several mortgage applications at a Saskatoon banking institution,” CBC News reported.
Deb and another realtor were found to have submitted the mortgage applications with the suspicious documents. Police added that the accused submitted eight falsified applications to a single financial institution.
The charges have yet to be tested in court. Deb has been scheduled to appear in court next month.
A Royal LePage spokesperson told CBC News that Deb is no longer affiliated with the company, and did not elaborate further. Among other citations, Deb earned Royal LePage national awards of excellence in 2016, 2017, 2018, and 2019.
The Saskatchewan Realtors Association said that Deb has not been a member since December 14, 2022.