Mississauga man found guilty following investigation into real estate fraud
A Mississauga man has been found guilty following an investigation into extensive real estate fraud.
According to the RCMP, 51-year-old Nadeem Ahmed has been found guilty of three charges following an investigation into foreign real estate investment fraud.
In a decision handed down by the Ontario Supreme Court of Justice on April 21, 2021, Ahmed was found guilty of two counts of fraud and one count of using a forged document.
Police say Ahmed was arrested in March 2018, along with former Member of Parliament, Wajid Ali Khan, during Project Alcazar, an investigation led by the RCMP National Division’s Sensitive and International Investigations section.
Police say it is believed the two men fraudulently borrowed large amounts of money from personal contacts in Canada to purchase investment properties in Pakistan.
Project Alcazar began in January 2015 and involved collaboration between the RCMP, the Canada Border Services Agency, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Immigration, Refugees and Citizenship Canada and the Peel Regional Police.
Investigators also obtained specialized expertise from the Forensic Accounting Management Group of Public Services and Procurement Canada.
Police say Ahmed is scheduled to return to court on June 4, 2021, at which time a date for sentencing is expected to be set.
Police also say charges against Khan are proceeding through the courts.
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