Suspect turns himself in

Posted Jun 15, 2010 1:33 pm.

This article is more than 5 years old.

A man wanted by Calgary police in an alleged loan and mortgage scam has turned himself in.

38 year-old Richard William Hoffman showed up at the downtown arrest processing section around 11 a.m. Tuesday, after police put out an alert for him Monday.

He’s facing charges, including unfair practices under the Fair Trading Act of Alberta, and collecting a criminal interest rate under the Criminal Code.

An elderly Calgary couple was being charged 65 per cent interest on tens of thousands of dollars in loans after they were contacted, unsolicited, by a man who they believed was selling them a reverse mortgage.

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