The commission has confirmed it is gathering information from anyone who has been involved with Greg Martel’s companies Shop Your Own Mortgage and My Mortgage Auctions Corp.
The B.C. Securities Commission has confirmed it is in the midst of an investigation of Victoria mortgage broker Greg Martel.
The information is being gathered by the commission’s Criminal Investigations Branch, which investigates potential quasi-criminal offences under B.C.’s Securities Act and criminal offences under the Canadian Criminal Code.The investigation will run alongside the investigative work of PricewaterhouseCoopers, the receiver overseeing the bankruptcy proceedings of My Mortgage Auction.
The receiver’s fourth report into Martel’s activities makes it clear Martel has been evasive when it comes to answering direct questions about where the money was invested and has not co-operated fully with the receiver’s investigation. Bankruptcy proceedings allow the trustee to review payments My Mortgage has already made to some investors and claw that money back for the estate.
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