Mortgage dealer in Victoria was fired after the regulator cited "misappropriated millions"

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The Crown regulator of financial services has suspended the Victoria

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mortgage broker who owes investors about a quarter billion dollars,

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citing a lack of honesty, integrity, and professionalism.

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Numerous civil lawsuits and court-ordered receivership processes have been filed

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against Greg Martel and his business, Shop Your Own Mortgage, in an effort to

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solve the riddle of what happened to $226 million in missing investor monies.

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A B.C. Financial Services Authority (BCFSA) decision states that a preliminary investigation into Martel

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reveals that he "...misappropriated millions of dollars of bridge loan capital for personal benefit,

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did not fulfil the terms of investment contracts, kept going to seek additional

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funding after already going bankrupt on existing loans, and

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did not work to comply with numerous orders of the B.C. Supreme Court."

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