Banks & Banking

‘Everything I have done has always been above board,’ former mortgage lender tells fraud trial Omar Kalair faces numerous charges, including fraud, theft and laundering the proceeds of crime

(CBC) A man accused of misappropriating millions of dollars after his Shariah mortgage lending company went into receivership testified in his own defence in a Toronto courtroom, saying everything he’s done has always been “above board.” Omar Kalair, the former president and […]

Banks & Banking

Homeowner testifies at trial of 2 men accused of defrauding Shariah mortgage holders Defence is trying to demonstrate homeowners were credited for payments they made

(CBC) The trial of two men accused of defrauding homeowners who had taken out “Shariah-compliant” mortgages heard Thursday from one of the mortgage holders, who admitted under defence cross-examination that he and his wife eventually got credited for their payments. Omar Kalair […]

Banks & Banking

2 men defrauded Shariah-compliant mortgage-holders of millions of dollars, crown tells trial Omar Kalair pocketed money from his mortgage company before it went bankrupt, crown alleges

(CBC) The trial of two men charged with defrauding Muslim homeowners got underway in Toronto courtroom this week with the crown accusing the defendants of bilking their clients of millions of dollars. Omar Kalair and co-accused Yusuf Panchbhaya are standing trial in […]