Former Cochrane Lawyer Sent To Prison For Mortgage Fraud
For the second time in September 2013, and the third time in the last 10 months, a Calgary area person has been sent to prison for mortgage fraud.
Nicola Alexandra Davis, a former Cochrane lawyer, was sentenced to two years in prison. In addition, Ms. Davies must complete two years of probation after being released, including 75 hours of community service.
Court was told of a number of relationship issues the three-time divorced Davis was having with a new boyfriend (who had a lengthy criminal record for alcohol related matters). During 2008 and 2009 Davis committed a series of fraudulent real estate and financial transactions, including using funds improperly from her trust account.
Davis also forged the signature of her latest boyfriendís late father so she could take ownership of the deceased manís house.
There were at least two other instances on other properties of forged documents where Davis obtained mortgages by making false statements.
The financial institutions lost well over a million dollars in all these transactions.
This case clearly was not typical of the planned systemic mortgage fraud Calgary has been seeing since 2006. However, this does demonstrate once again how prevalent real estate fraud is in Calgary.
Next up on the Alberta mortgage fraud scene will be the results of the Elander and McMullen trial currently ongoing In Edmonton. Also, in October 2013 we have the Adina Barbour trial in Lethbridge coming up.
Date of Story: Thursday, September 26, 2013
Story Posted By: Ron Reinhold
Source: Ron Reinhold
Return to the Investigative News
To Top of Page