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The Ontario office of the company developing the Capital Pointe project was subject to a police raid on Friday.
Officers from the RCMP’s white collar crime unit were reportedly seen raiding the offices of Fortress Real Developments’ in Richmond Hill, Ont.
The raid appears to be part of a fraud investigation by the RCMP Integrated Market Enforcement Teams into a syndicated mortgage, which is when multiple investors lend money to a developer to build a project.
The RCMP would not release any further details or confirm the exact target of the raids as the investigation is ongoing.
Fortress Real took over the Regina Capital Pointe project in June 2014.
At the beginning of April, the City of Regina ordered the company to fill in the hole at Victoria Avenue and Albert Street after it missed a construction deadline.
— With files from the Canadian Press
