- Two Saskatoon-based real estate agents have been charged with multiple counts of fraud in a two-year fraud investigation involving mortgage applications.
- Police say they traced the documents back to mortgages submitted by two realtors and discovered eight applications with false documents at one financial institution.
- SRA has identfied the realtors involved as Debashis Deb and Kamanashis Deb.
The Saskatchewan Realtors Association (SRA) has identified two Saskatoon-based real estate agents charged in a mortgage fraud investigation.
According to SRA, Debashis Deb and Kamanashis Deb have been charged with multiple counts of fraud over $5,000 in connection with a two-year fraud investigation involving mortgage applications.
The Saskatoon Police Service (SPS) shared details through a news release Wednesday night, confirming their investigation began Mar. 1, 2021, after they received a report of falsified banking documents submitted with several mortgage applications at a Saskatoon banking institution.
Investigators say they traced the documents back to mortgages submitted by two realtors and discovered a total of eight applications with false documents at one financial institution.
As part of the investigation, the SPS Economic Crime Section executed search warrants, which police say led to the seizure of more fraudulent documents linked to mortgage applications at several other financial institutions.
On Jan. 9, 2023, one of the accused, a 36-year-old man, turned himself in at SPS Headquarters and was charged with two counts of fraud over $5,000. On Mar. 15, 2023, the second accused, a 42-year-old man, was arrested and charged with 17 counts of fraud over $5,000. Police have not released their identities.
In an email Thursday morning, SRA’s Director of Public Affairs, Cole Zawislak confirmed Debashis and Kamanashis are no longer association members.
Zawislak added, “Our members have an ethical obligation to uphold moral integrity, provide competent service to clients and customers, and demonstrate dedication to the interest and welfare of the public.”