5-year Canada Revenue Agency investigation into B.C. 'shadow broker' doomed by 'technicality'

Summary

Federal prosecutors have decided not to pursue charges against Jay Kanth Chaudhary following a five-year investigation by the Canada Revenue Agency into an alleged mortgage fraud involving over half a billion dollars. This decision stems from a “technicality,” as outlined in documents obtained by the CBC. Meanwhile, the acting registrar of mortgage brokers in British Columbia has issued a cease and desist order against Chaudhary for allegedly operating as a ‘shadow broker’ on questionable mortgage files.

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