FSCO issues warning about GCA Group and syndicated mortgages

Photo of Dominic Ha from the GCA Group web site. The site is now “under construction.”

The Financial Services Commission of Ontario (FSCO) is warning consumers that GCA Group is not licensed or registered to conduct syndicated mortgage business in Ontario.

GCA Group appears to be soliciting syndicated mortgage investments through its website, http://www.gcagroup.ca, and appears to be using the street address Splendid China Tower, 4675 Steeles Ave. East Unit 2A19, Toronto Ontario M1V 4S5.

Consumers should exercise caution if they are contacted by anyone claiming to represent GCA Group or using these coordinates. Consumers should not enter into a syndicated mortgage investment through GCA Group.

It is important to note that if consumers obtain a mortgage through individuals or companies not licensed by FSCO, they are not protected under the Mortgage Brokerages, Lenders and Administrators Act and its regulations that govern Ontario’s licensed brokerages, brokers and agents.

Consumers may check if a mortgage brokerage, broker or agent is licensed on FSCO’s website.

Additional Information:

What to Do If You Think You are a Victim of a Scam or Fraud

SOURCE Financial Services Commission of Ontario

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