After sifting through thousands of Bank of Montreal documents, the RCMP and Calgary police have officially launched a criminal investigation into the alleged mortgage fraud.

The scam allegedly involved different groups buying lower-priced homes and selling them at inflated prices.

Sgt. Patrick Webb of the RCMP said the integrated criminal investigation will be lengthy and can’t specify how long it will take.

“There is a very large amount of documentation to examine and hundreds of interviews to conduct,” Webb said. “Basically, we reviewed the information and documents the Bank of Montreal gave to us and now investigators will gather and collect evidence to decide what charges will be laid, if any.”

Calgary northeast Tory MP Devinder Shory is alleged by BMO to have been part of the alleged $75 million mortgage fraud.

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