Mortgage agent gets 10% commission6 t, `8 J1 H/ a5 d) Y
According 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." : z4 l% P% L- |6 C2 v& ^http://www.cbc.ca/news/canada/to ... -mortages-1.4078124: i$ Q; f3 f2 N' Z$ E6 F& Y) u
12% Interest. Too good to be true. * x4 m" F% b3 i, N. }7 v+ \6 F4 w3 e7 J# _) V
However, Canadian legal system is so flawed that it allows these things to happen everyday. ) E3 G r' J0 ?) `6 X5 P! k7 U r2 T+ G# p- ~# i( v# J( B
I know some people who lost all their investments. & ?3 u5 P7 U: n8 e+ Z I
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Where does the money go? * o p C/ V) M: b; k' [ c