Victims of fatal Toronto shooting blamed for alleged mortgage fraud

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Alan Kats’s widow says ‘fear and depression’ engulfed her husband after the couple lost $1.37-million to a scheme organized by Arash Missaghi and a broker

Alan Kats felt the justice system failed him by not prosecuting a group of alleged mortgage fraudsters he blamed for scamming his family out of their life savings in an elaborate mortgage scheme.

“My husband and my family are the victims of a carefully planned scam,” she told The Globe and Mail. “More than half a year ago we made an official report to the police. We hired lawyers, went to court, but no justice was served. As a result, our lives are forever changed, depriving me of a husband and our kids from their father.”

“I need to bury his body and say goodbye now,” said Ms. Pogorelovsky, who says she will continue with litigation against Mr. Missaghi’s alleged associates. “I have two kids to raise on my own with no work, no income, no house, no money.” “You will almost never find a final judgment or decision against Mr. Missaghi – this was a very sophisticated litigant who knew how to manipulate the courts to his advantage,” said Peter Smiley, a lawyer who says he represents five to 10 people allegedly victimized by Mr. Missaghi.

Mr. Missaghi, who at times claimed to be a multimillionaire but who had also pleaded bankruptcy, was based in north Toronto and surrounding cities, but the disputed properties he was involved in stretched from New Liskeard in Northern Ontario to office towers in Michigan. A statement of claim filed in the case says the couple were “unsophisticated investors” when they were introduced to Ms. Yousefi by a friend.

 

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