| Victoria mortgage broker Gregory Martel is facing multiple lawsuits that claim he owes more than $27.5m. Martel’s lawyer says: "The defendant has not wrongfully handled, misappropriated, embezzled, disposed of, or destroyed the plaintiffs’ monies."
Martel is out of the top chair of his own company after the B.C. Supreme Court appointed a receiver. PricewaterhouseCoopers took over My Mortgage Auction Corp., dba Shop Your Own Mortgage. Martel started his scheme in 2016. A report noted only $273 was in Royal Bank of Canada accounts. Those same accounts had $58 million deposited and withdrawn over the past six months, with no explanation evident to the receiver. |
