The RCMP “E” Division Commercial Crime Section and Vancouver Police Department announced on Tuesday that two Vancouver area men have been charged and arrested as a result of an investigation into complaints of fraudulent real estate transactions.
Tarsem Singh Gill, a former real estate developer, and Martin Keith Wirick, a former lawyer, were arrested on August 26, bringing to an end a lengthy investigation conducted jointly by the two police forces.
E Division Commercial Crime Section Sgt. Susan Green said that Gill and Wirick are alleged to have committed theft and fraud between the years 2000-2002 in respect to107 separate real estate / mortgage transactions totaling over $30 million. Other related charges include uttering forged documents and possession of stolen property.
The two were released on bail and are scheduled to appear in court on September 15.
Meanwhile, the Law Society of British Columbia said that it was satisfied that criminal charges had been laid against Wirick for the misappropriation of real estate and mortgage funds.
The Law Society disbarred Wirick in 2002, after receiving information about the misdirection of funds in several real estate transactions. The society took immediate steps to protect the victims and approved nearly $40 million in compensation to people and organizations affected.
"The Law Society went to great lengths to protect the public interest in this case," said John J.L. Hunter, President of the Law Society. "We have provided $38.4 million in compensation to victims, we disbarred Mr. Wirick, and we adopted new rules and guidelines to help prevent this from ever happening again.
"As a result of the actions of the Law Society and its members, not one of the hundreds of these innocent homeowners lost their homes.”
As part of the new rules and regulations, the Law Society has strengthened its Trust Assurance Program, which includes new reporting requirements for lawyers, enhanced rules regulating the handling of trust funds and an in-field audit program for regular and spot audits to ensure compliance.
According to the Law Society, Wirick began practicing law in 1979. The misdirection of client funds began in 1999, with the help of client Tarsem Gill. Gill would purchase a property, redevelop it and sell it. Wirick would receive the sale proceeds from solicitors or notaries representing the purchasers, but instead of paying off the prior encumbrances, he misdirected the down payment and mortgage funds to cover other obligations of Gill and his companies.
In May 2002, Wirick wrote to the Law Society resigning his membership and admitting to breaches of undertakings in several real estate transactions. Two months later he declared bankruptcy, listing contingent liabilities of about $52 million.
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