Portneuf region: a couple of fake mortgage brokers pinned

A couple from Lac-Sergent who operated a mortgage brokerage business without being registered with the AMF were the subject of an emergency freeze order after they allegedly collected more than $ 200,000 in fees for illegal brokerage services to 91 vulnerable clients in one year.

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Already convicted for the first time last May, for illegal practice of the activity of mortgage broker, Daniel Cousineau-Claveau also has a good track record in criminal matters for theft and fraud. This man who presents himself under several names, such as Dan Cousineau or Daniel Richard Cousineau, and who has notably lived in Montérégie, settled for about a year in Lac-Sergent, in Portneuf, with his wife, Sabrina Albert.

After receiving complaints from five clients of the company Magik Hypothèque sans frontières, the Autorité des marchés financiers recently obtained from the court an emergency blocking order against the activities of this unregistered firm. The AMF alleges that Cousineau-Claveau illegally carries out mortgage brokerage activities, since it is not registered with the AMF.

At least 91 clients

The AMF presented the examples of five clients who did business with Magik Hypothèque, who paid fees of $ 21,450 without obtaining a mortgage loan, as Cousineau-Claveau suggested, and who were not reimbursed. . However, at least 86 other clients could be involved and have paid a total sum of more than $ 200,000.

According to the evidence presented, Magik Hypothèque’s clients all had the same profile, that is to say that of financially vulnerable people looking to buy a house, but who have a high level of debt, a bad credit rating or insufficient income and who saw their file refused by the bank. For its part, Cousineau-Claveau had its clients sign “an exclusive professional brokerage agreement” worth several thousand dollars so that they could find a lender for them.

“Disturbing fact”, says the AMF, Magik Hypothèque proposes a “scheme having all the appearances of mortgage fraud and the fabrication of false documents”. Daniel Cousineau-Claveau would have boasted of being able to “pass” files by submitting fraudulent documents in particular thanks to “candy” that he offered to bank managers.

However, according to the AMF, none of the steps taken by the respondent would have been successful. The clients who would have tried to be reimbursed would have received an end of inadmissibility or would have no longer heard from the broker without a license.

The Authority has also observed numerous movements of funds between bank accounts. Monies received from clients were quickly transferred, once received, to bank accounts belonging to Sabrina Albert.

The blocking order was approved by Judge Jean-Pierre Cristel. Cousineau-Claveau was obliged to deactivate the Magik Hypothèque website and to remove all advertising to this effect.

His wife Sabrina Albert also had to remove all advertising from the firm on its social media, in particular. Since this urgent step was aimed at avoiding any irreparable harm, the Autorité des marchés financiers is continuing its investigation and criminal charges could eventually be filed against the two respondents.

Example of the client who reported the situation

  • Purchase of his parents’ house for $ 232,000
  • Debt too high
  • Fee requested of $ 6,000
  • June 25, 2020: First payment of $ 1,500
  • A total of 12 transfers for a total of $ 14,150 were made from the client to Cousineau in four months.
  • Driver’s license number, social insurance number, T4 and notice of assessment given to Cousineau
  • The client’s credit bureau has been tampered with.
  • The transaction never took place.
  • Cousineau never reimbursed the $ 14,150 to the client, who had referred two friends.

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