Four people arrested in Project Bridle Path, Mortgage Fraud Investigation

In Spring of 2013, members of Toronto Police Service Financial Crimes became involved in a sophisticated and complex mortgage fraud investigation into several high-end properties, the value of the fraud is estimated to be $17 million.

It is alleged that:

– mortgages were to be secured on properties, however they were never registered and were misrepresented to the lenders

– individuals and companies who were introduced as owners of the properties were not in fact the real owners

– false title insurance certificates and property insurance certificates were introduced, in part, to convince the legitimacy of the transactions

– multiple false title and home insurance policies were given to the lenders before the funds were released

After a lengthy investigation the following individuals were located and arrested by the Toronto Police Service Financial Crimes Unit.

On Tuesday, February 13, 2018, Arash Missaghi, 48, of Richmond Hill was arrested. He is charged with:

1. Fraud Over 5000
2. Conspiracy to commit and indictable offence
3. Accessory after the fact to an indictable offence
4. Uttering forged documents

On Monday, February 12, 2018, Grant Erlick, 45, of Toronto was arrested. He is charged with:

1. Fraud Over 5000
2. Conspiracy to commit and indictable offence
3. Accessory after the fact to an indictable offence
4. Money laundering

On Tuesday, February, 20, 2018, Masumeh Shaer-Valaie, 48, of Richmond Hill was arrested. He is charged with:

1. Fraud Over
2. Conspiracy to commit and indictable offence
3. Accessory after the fact to an indictable offence
4. Money laundering

On Wednesday, February 28, 2018, Bob Bahram Aziz Beiki, 53, of Toronto was arrested. He is charged with:

1. Forgery

They are all scheduled to appear in court at Old City Hall on Tuesday, March 6, 2018, in court room 111.

Anyone with information is asked to contact police at 416-808-7300, Crime Stoppers anonymously at 416-222-TIPS (8477), online at www.222tips.com, or text TOR and your message to CRIMES (274637). Download the free Crime Stoppers Mobile App on iTunes, Google Play or Blackberry App World.

For more news, visit TPSnews.ca.


Constable Jenifferjit Sidhu, Corporate Communications, for Detective Alan Fazeli, Financial Crimes Unit – Corporate Crime Section