British Columbia is in the middle of a housing crisis, with thousands of people homeless, evicted, or barely surviving in overpriced rentals. Meanwhile, fraudsters are manipulating the real estate and mortgage system, driving up prices, and making millions while people suffer.
Recently, the BC Financial Services Authority (BCFSA) exposed a group involved in unregistered mortgage broker activity linked to Jay Kanth Chaudhary. Their actions undermined the housing market, contributed to rising costs, and made homeownership even more unattainable for everyday Canadians.
These people weren’t just caught making mistakes—they were actively engaging in fraud. And what’s their punishment? A fine? A license cancellation? Is that really justice?
The Fraudsters: Who They Are and What They Did
The BCFSA issued penalties and license suspensions to several individuals involved in the scam:
- Afsaneh Zarshenas – Paid $50,000 in fines and must take courses to regain her real estate license.
- Molenia Golshani – Had her license cancelled, fined $75,000, plus enforcement expenses.
- Homayoun (Sam) Harji Karimloo – Same penalties as Golshani.
- Sayna Sadat Mirzadeh – License cancelled but avoided financial penalties.
- Shane Ballard – Former submortgage broker, fined $50,000 and banned from ever working in the field again.
Other fraudsters, including Rashin Rohani, had their licenses cancelled and were ordered to pay $130,000 in penalties. Rohani is appealing the decision—because, of course, they don’t think they should face real consequences.
And let’s not forget: This is just one case. How many more of these scams are happening right now?
The Real Cost of Their Crimes
While these fraudsters profited from shady real estate deals, hardworking families lost their homes and the homeless crisis worsened. This is not a victimless crime. Here’s what happens when mortgage fraud runs rampant:
1. More People Get Priced Out of Homes
When fraudsters manipulate the system, housing prices skyrocket. Working-class people can't compete against laundered money, fake loans, and manipulated markets.
2. Homelessness Increases
BC has one of the worst homelessness crises in Canada. How many people sleeping in tents today were pushed out of housing by these scams?
3. Honest Buyers Get Stuck with Bad Loans
Some people unknowingly bought homes financed with fraudulent mortgages—now they could lose everything.
4. Money Laundering Thrives
This kind of fraud is often tied to organized crime, making housing even more unaffordable. The Cullen Commission already exposed how billions in dirty money have been funneled through BC’s real estate market.
Real Consequences: What Should Happen?
Fines and license cancellations are not enough. If we’re serious about tackling housing fraud, these people should face real accountability.
Here’s what should happen to every fraudster caught in cases like this:
1. Mandatory Work in Homeless Shelters & Food Kitchens
They should see firsthand the suffering they contributed to. Let them serve food, clean shelters, and hear the stories of people struggling because of a broken system they helped corrupt.
2. Prison Visits to See the Aftermath of Financial Desperation
Fraudsters may not think they ruined lives, but desperate people pushed out of housing often end up in jail. They should have to walk through prisons and meet those whose lives were shattered.
3. Graveyard Visits to Understand the Ultimate Consequence
Some people don’t survive homelessness. The fraudsters should have to visit the graves of those who died cold, alone, and abandoned by a system that let scammers profit while others suffered.
4. Deportation (If They Are Non-Citizens)
If any of these fraudsters are not Canadian citizens, they should be deported. Canada should not be a playground for criminals to exploit our housing market and get away with a fine.
Enough Is Enough: Demand Real Action
This case is just one example of real estate fraud in BC. How many more shadow brokers, fake buyers, and organized crime-linked deals are happening right now?
We need stronger laws, better enforcement, and real consequences for those destroying our housing market.
🔹 Share this post and spread awareness.
🔹 Demand real justice for housing fraud.
🔹 Call for accountability and stronger laws.
It’s time to take back our housing market from scammers, fraudsters, and criminals.
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