Montreal police say four suspects have been arrested for their alleged ties to a massive real estate fraud scheme that took more than $4.5 million from vulnerable home buyers.
The four suspects were arrested Thursday in Montreal and Quebec City: Mickael Abraham Barchichat, 44; Michael Moscovici, 44; Marc-André Fortier, 43; and 40-year-old Olivier Perez.
Barchichat is scheduled to appear in court Thursday afternoon by videoconference to face charges of fraud exceeding $5,000, use of forged documents, and conspiracy.
The other three suspects were released from custody with conditions on a promise to appear in court at a later date.
According to police, the four suspects were allegedly involved in a scheme that targeted victims who were struggling with money. The accused are alleged to have posted online ads to lure their victims and once they gained their trust, they offered solutions to settle debts and resolve financial problems.
“In the process, victims were taken to a notary and, without realizing it, signed documents transferring ownership of their property,” police said in a news release.
The homes involved in the alleged scheme were in Dollard-des-Ormeaux, Longueuil, L’Épiphanie, Sorel, Lambton, and Sainte-Praxède, in the Eastern Townships.
Barchichat is also accused of being involved in fraud related to long-term vehicle leases. Police allege that he used stolen identities to enter into lease agreements at a car dealership in the Montérégie region.
The victims of this scheme only later learned that they had outstanding debts when their credit card companies contacted them about missed payments.
Police offer fraud prevention tips
Montreal police are reminding the public to be vigilant and to take precautions to be avoid being scammed:
- If you are experiencing financial difficulties, be wary of people who offer you attractive solutions;
- Consult a trusted friend or family member to verify the information you’ve received and make sure you always understand what you’re signing;
- Never give in to pressure; and
- Do your due diligence on the people you’re considering doing business with.
Victims of fraud can contact a police station to file a complaint. Information can also be provided anonymously to Info-Crime Montreal at 514-393-1133.
