Toronto - Between 1998 and 2000, it is alleged that two brothers, Kam Cheung Chan and Patrick Chan, were engaged in a real estate scheme through which they defrauded a bank of $3.8 million.

It is further alleged that:
- the scheme revolved around two local properties, both owned by the Chans, one a local downtown residential high-rise, the other a low-rise commercial plaza in Markham,
- several victims were induced into investing in what they were told were well-appointed two-or-three-bedroom residential condominium units,
- each victim was guided through the transaction process by the accused and furnished certain personal information to apply for the mortgage.
- in order to facilitate this fraud, the Chans used a real estate agent, Roland Williams; two mortgage specialists from the bank, Lascelles Williams and Amid Baig; and a real estate lawyer, Steven Mucha.
- unknown to the victims or the lending institution, the units were not residential units but parking-lot spaces and/or storage lockers worth substantially less.
- once the real estate aspect of this fraud was completed, a number of personal and business credit lines were opened with the same lending institution, using all the personal information gleaned from the original victims.
- these accounts were then maxed-out and eventually defaulted.

Arrested are:

Patrick Chan, 61, of Richmond Hill.
He was charged with:
1) 36 counts of Fraud Over,
2) Possession of proceeds of crime,
3) Laundering proceeds of crime

Lascelles Williams, 36, of Pickering.
He was charged with:
1) 39 counts of Fraud Over,
2) Possession of proceeds of crime,
3) Laundering proceeds of crime

Saquib Majeed Baig, 38, of Markham.
He was charged with:
1) 21 counts of Fraud Over,
2) Possession of proceeds of crime,
3) Laundering proceeds of crime

Steven Mucha, 53, of Toronto.
He was charged with:
1) 19 counts of Fraud Over
2) Possession of proceeds of crime,
3) Laundering proceeds of crime

Roland Williams, 70, of Mississauga.
He was charged with:
1) 10 counts of Fraud Over,
2) Possession of proceeds of crime,
3) Laundering proceeds of crime

They are scheduled to appear in court at College Park on Monday, February 25, 2008, room 505, 2 p.m.

Canada-wide warrant has been issued for the arrests of:

Ling ling Cho, 45, of Markham, wanted for:
1) Three counts of Fraud Over,
2) Possession of proceeds of crime,
3) Laundering proceeds of crime.

Kam Cheung Chan, 54, of Mississauga, wanted for:
1) 45 counts of Fraud Over,
2) Possession of proceeds of crime,
3) Laundering proceeds of crime

Anyone with information is asked to contact police at 416-808-7300, Crime Stoppers anonymously at 416-222-TIPS (8477), or online at http://www.222tips.com/.