(Source: The Canadian Press)

Lawyers in British Columbia have put up their own cash to compensate victims of a real estate scheme that’s being called one of the largest legal frauds in Canadian history.

Vancouver lawyer Martin Wirick has pleaded guilty to defrauding dozens of people of $40 million from 1999 to 2002.

Wirick and a co-accused sold and refinanced properties, but didn’t use the money from those transactions to pay off existing mortages, leaving property owners with debt they believed had already been paid off.

Read the full article “B.C. lawyers pay to compensate victims of massive real estate fraud” in The Canadian Press (June 9, 2009).

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