Mortgage agent gets 10% commission 9 i. B8 C5 S+ q0 s' i: RAccording to the contracts that investors signed, Ha received 10 per cent of the funds for each syndicated mortgage he solicited for "mortgage orientation, referral, management and consulting fees.", j/ o; ~* r1 f5 r' H* Q http://www.cbc.ca/news/canada/to ... -mortages-1.40781243 ]; v1 k' Q% w5 i- h9 _4 B
12% Interest. Too good to be true. 0 e* |$ [) v" X5 f* y+ C _1 z6 l& n' L1 ~6 }4 L- W1 z! F; I; t2 @
However, Canadian legal system is so flawed that it allows these things to happen everyday. , v% ?, A3 r8 M " f2 Y1 q; v/ SI know some people who lost all their investments. $ o. Z5 B; `. R1 O$ `0 \6 d1 U6 y6 X2 q. W) H6 R# F6 S0 K
Where does the money go? * j) c* F) x" X; k2 ?5 V$ o/ L' H