York Regional Police have charged Norman Webb of Orangeville with fraud after receiving a complaint from a private Newmarket resident who invests in mortgages.

Police say that in 2005, the accused applied for and received two mortgages totalling $455,000 from the complainant for the construction of two houses in Montague Township near Smiths Falls. The money was to be advanced to the accused as the construction progressed. However, it is alleged that Mr. Webb submitted false documentation showing the houses were being constructed as planned, when in fact no construction had taken place. The remainder of the money was advanced to the accused in 2005 and the mortgages later went into default.

Police investigators say that the land these houses were to be built on remained undeveloped and false documents were submitted to defraud the Newmarket lender.

Mr. Webb, 61, faces two counts of fraud over $5,000. He is to appear in Ontario Court at Newmarket tomorrow (Friday).