Ontario looks into why fraud charges dropped

Last Updated: Tuesday, November 16, 2010

Ontario Attorney General Chris Bentley says he wants to know why charges were dropped against a Toronto man accused of bilking dozens of investors out of $27 million.

Police charged Tzvi Erez with fraud last year, alleging he was running a Ponzi scheme using money from new investors to pay returns to his original investors.

However, Crown prosecutors opted to drop the charges, blaming a lack of resources to go ahead with the complicated case.

Bentley says the province takes fraud very seriously and "doesn't walk away" from important criminal cases.

The attorney general says reports of the charges being dropped cause him a "great deal of concern" and he has asked the chief prosecutor "to get to the bottom of it."

NDP justice critic Peter Kormos says there should be a much broader investigation into how the case was handled and he thinks there are other cases being thrown out because of a lack of resources.

Bentley couldn't say if charges against Erez could be reinstated, but Kormos says the victims of the alleged Ponzi scheme likely won't get justice.


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commentary by the Ottawa Mens Centre

 

Ontario needs to take a close look at its financial regulations that make FRAUD LEGAL.

Mortgage providers are now offering "two mortgages", one to pay out the old mortgage company, and one to make "improvements, renovations, and payments on the first mortgage while the property is improved and sold.

Just one problem, the Mortgage providers deliberately and fraudulently lead the owner to believe TWO mortgages are approved. They provide the first, and of course, don't provide the second mortgage, which of course was going to be a second company, hiding behind the first.

The end is predictable, the company evicts the victim, takes over the home, the victim becomes homeless, without the money to litigate, and the underbelly of the Mortgage business goes on acquiring property after property, relying upon "equity" obtained by fraud.

its all perfectly legal and if it goes to court, Ontario Superior court judges make corrupt decisions for their friends, you see, the underbelly of the Mortgage business, are lawyers.

www.OttawamensCentre.com