Brampton man facing fraud charge, 2 lawsuits as alleged real estate deposit scam collapses
A Brampton man is in hot water after being charged with fraud and facing two lawsuits related to an alleged pre-construction home deposit scam worth hundreds of thousands of dollars. Moiz Kunwar, 28, is accused of taking real estate deposits from at least nine homebuyers in the Greater Toronto Area (GTA) for pre-construction houses he did not have the right to sell. These homes were being built by legitimate developers, not Kunwar.
One of the victims, Janet Campbell, a Brampton grandmother, is among those suing Kunwar to recover nearly $170,000 they paid him for deposits on pre-construction homes they never received. Campbell shared her heartbreaking experience of believing in Kunwar’s promises, only to be left without a home for her family. She had to spend her savings on temporary accommodations and take out loans for rent after Kunwar failed to deliver on his commitments.
Peel Regional Police have charged Kunwar with fraud over $5,000 and possession of property obtained by crime in connection with the alleged real estate scam. However, the charges have not yet been tested in court. Kunwar’s lawyer has denied all allegations of fraud, claiming that Kunwar was merely a sales associate who received payments on behalf of his superiors and did not deposit them for personal use.
This is not the first time Kunwar has been involved in questionable real estate deals. Three years ago, a CBC Toronto investigation raised concerns about Kunwar’s involvement in selling pre-construction homes that he did not have the authority to market. Despite warnings from legitimate developers that Kunwar had no right to sell their properties, he continued to take deposits for non-existent homes, even as recently as last year.
Lawyers representing the victims in the lawsuits against Kunwar are working to recover the lost deposits and hold Kunwar accountable for his actions. They emphasize the importance of due diligence and caution when entering into real estate transactions to avoid falling victim to scams like the one orchestrated by Kunwar.
Campbell hopes that by sharing her story, she can prevent others from experiencing the same betrayal and financial loss. She urges people to be wary of deals that seem too good to be true and to do thorough research before trusting anyone with their hard-earned money. The consequences of falling for a scam like Kunwar’s can be devastating, leaving families without homes and facing financial hardship. It serves as a stark reminder to always be vigilant and cautious in the real estate market.
