Toronto Police Are Looking For A Man Who Allegedly Stole $10M In A Mortgage Fraud Scam

Toronto police are looking for a man who allegedly obtained millions in mortgage fraud scams.

In a press release, authorities said a Canadawide warrant had been issued for Yuansen Fu, 23, of Toronto.

Police said Fu is wanted for a mortgage fraud scam investigation totalling over $10 million.

Among the allegations against Fu are multiple mortgage fraud occurrences that were reported to the Toronto Police Financial Crimes Unit. It is also alleged that he pretended to be a legitimate homeowner with fraudulent identification.

Police believe that Fu also worked with a female mortgage broker, and together they targeted law firms in the Chinese community.

"Investigators are advising the public, especially those in the mortgage and legal professions, to scrutinize all identification and be vigilant in confirming the identities of individuals in real estate transactions," police said in the release.

Police are reminding the public to be wary of referrals from unknown mortgage brokers, inconsistent appointments, online applications, and owners/brokers showing up for meetings at times outside of what was initially agreed upon.

Fu is wanted for one count of uttering forged documents, one count of fraud exceeding $5,000, and one count of conspiracy to commit an indictable offence.

Authorities believe that he is armed and dangerous. Police also noted that he is known to frequently travel to Vancouver.

If you see him, they recommend that you don't approach him but immediately contact the police.