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The trustee appointed to manage the bankruptcies of a Victoria mortgage company and its owner has concluded that they committed "numerous offences" and operated as a "massive Ponzi scheme."
At least 930 creditors have filed claims against Greg Martel amounting to $317 million.
The firm leading the investigation into the flow of money for Greg Martel's business has determined Martel was running a Ponzi scheme.
Martel is now estimated to owe $312 million to 1,300 investors, putting him in the running for the largest Ponzi scheme perpetrator in Canadian history.
