Mortgage agent gets 10% commission3 U5 P3 |0 g) k9 v
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." * ~! D6 J3 o# A8 {" D5 ehttp://www.cbc.ca/news/canada/to ... -mortages-1.4078124' i! J: R& `$ x8 P
12% Interest. Too good to be true. + O4 h$ l# Z4 z5 A% _& `
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However, Canadian legal system is so flawed that it allows these things to happen everyday. ) Q8 t# e6 G# X. Z 3 m" F' X0 N) f. D! b+ ^! JI know some people who lost all their investments. 2 I) F0 e% Q, S" t; K2 P# |
, o+ s" K* R/ b. e; |Where does the money go? 5 I: \& r# |6 k7 D3 d; x