Verico the Mortgage Station, Loan Sharks In Lefroy

Verico the Mortgage Station

Loan Sharks Defrauding Seniors in Simcoe County Now Hiding Behind a Wall of Lies and Deception.

A documentary in production for broadcast and streaming

Five Points Media is a provincially registered media company and community channel.
Studio: 705-828-5605 ~ Production: 416-996-2786 ~ Email

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Our reports and evidence remain 100% uncontested by any identified person.

This 'threat' was sent by an anonymous coward who feared signing their own name.

  1. Our articles have been online throughout the time shown above; however, we have not received a single challenge to our fully-supported alllegations.
  2. All three brokers who are key to this documentary, David Flude, Lisa Purchase, and Renee Dadswell, have admitted in writing to our allegations.
  3. We have made multiple offers for the brokers of Verico the Mortgage Station and their various corporate allies to explain their side of the story.
  4. Despite our multiple offers of détente, not a single representatives of any of these multi-million and multi-billon dollar companies has stepped up.
  5. We have offerred to cancel this documentary, and to delete all articles and videos, if any of the accused can disprove our claims on camera using evidence.
  6. So far, none of them have shown the courage to stand up and disprove our claims, meaning all of our allegations remain 100 per cent uncontested.
  7. These purportedly 'legitimate' companies, who secretly lie to their clients about us, appear so afraid of our evidence they will not challenge our allegations.
  8. If we were not factual in our reporting, any of those corporations could have attained a cease and desist order or other injunctive relief against us.
  9. Instead, all these wealthy corporations seem willing or able to do is hide in the dark and hope that their clients do not learn the truth.
  10. So far, 97% of comments made online or through emails, direct messaging, etc. have been supportive of our exposure of these criminal acts.
  11. The South Simcoe Police Service is subject to pending investigation after omitting evidence and falsify figures to help the wealthy brokers.
  12. The Producer is 35-year media veteran who has worked as an international television news in places like Bosnia and the Middle East, and as the Deputy Editor of a national European newspaper owned by the Washington Times.
  13. The Producer has also passed on that knowledge and experience by teaching at three community and private colleges in Ontario and British Columbia.
  14. The Producer and crew of this exposé documentary represent a not-for-profit community channel that since 2014 has donated more than $700,000.00 worth of services to more than 185 local charities, not-for-profits, benevolent special interests groups, and the towns and villages of Simcoe County.
  15. In 2020, at the height of the pandemic, the Producer and crew were nominated for and voted to the highest levels for an award for altruism presented by the City of Barrie and the Greater Barrie Chamber of Commerce.

Mortgage Lenders Now Warned About Crimes Committed At Verico the Mortgage Station

For more than 540 days or nearly eighteen months, we have attempted repeatedly to show the brokers at Verico the Mortgage Station that it is in their best interests to address our allegations and evidence on camera. After all, if they have done nothing wrong, what do they have to fear?

We have even gone so far as to offer to cancel the production of this documentary and remove all social media posts if any of them can show us on camera, using tangible evidence, that our allegations of usury, pathological lying, and defiance of ‘regulatory requirements’ are in any way inaccurate. We also offered to hold a ‘without prejudice’ meeting under a flag of truce to ensure the accuracy of our reporting, but even that proved to be too much of a threat to the fragile construct of alternate reality generated by David Flude, Lisa Purchase, and Renee Dadswell. So far, all those facts also apply equally to the management team at HomeEquity Bank.

What could we possibly have that would elicit this level of fear within multi-million-dollar and multi-billion-dollar corporations?

Most people understand that only the guilty hide, and that people of substance stand up and refute false claims made against them. So, is there a viable reason why any of these people have refused to say a single word to contest our claims, other than their guilt?

We currently hold an unusual position of having posted allegations of serious criminal acts that have remained uncontested for an unprecedented period of eighteen months, which is unheard of, as even the lowest of the low will deny allegations made against them, or at least have their lawyer do so on their behalf.

Regardless of this wall of denial, we are moving forward, and on Friday, December 8, 2022, we exercised our right as journalists to contact the various lenders who provide mortgage funding to the clients of Verico the Mortgage Station. We would have preferred to leave them out of this, as they are not direct parties to the crimes, but then we realized we have an obligation beyond that of just the potentially vulnerable seniors who buy the CHIP Reverse Mortgage from the blinders wearing see-no-evil HomeEquity Bank.

These lenders and the shareholders who finance them also have a right to know the truth about those with whom they do business.

Of course, we wanted to accurately ascertain the list of lenders used by the brokers at Verico the Mortgage Station, so we went straight to the source. Renee Dadswell was nice enough to list them for all to see on her promotional page. We understand that there are likely others, but clearly, these twenty are their top sources of funding for the brokers at Verico the Mortgage Station.

Harvesting this publicly available information and then researching the companies for contact details is fully legal and ethical, as is advising them of the details of our allegations that remain uncontested.

Keep in mind that despite their choice to repeatedly ignore our request for a meeting, each of the brokers at Verico the Mortgage Station has acknowledged the validity of our allegations. In an email dated May 9, 2022, Lisa Purchase replied to a list of allegations by our producer, including accusations of loan sharking, by stating “I still agree with everyone you've said.” Then, in an email dated June 14, 2022, Renee Dadswell stated “In reviewing the document, you are correct in stating that since the term stated was very short, that the amount of the administration fee would exceed the limit of an allowable cost of borrowing.”

Finally, in an email dated June 9, 2022, David Flude, the Principal Broker, said this about the nearly 200% rate of interest charged, “This short term loan provided to assist you in making your previous mortgage payment obligation, in my opinion was a generous and helpful deal.”

Since the first day we reported on this story, we have chosen to present our evidence for all to see, while the brokers at Verico the Mortgage Station hide in the shadows refusing to refute our allegations.

On October 26, 2023, David Flude responded to an email from a potential client named Elizabeth, who had advised him she was going to work with a different brokerage after having found our reporting and evidence. We know of 40+ others who did likewise, and they are only the ones who told us of their decisions while thanking us for exposing the truth about the brokers at Verico the Mortgage Station. In his desperate plea for her business, David Flude lied repeatedly about our producer, calling him an ‘agitator’, and telling all kinds of lies about him.

In truth, John is an internationally experienced journalist, photojournalist, and videographer who has worked in both print and television since 1988. That experience includes three years working inside Greenpeace and as a war correspondent in places like Bosnia during their civil war and the Middle East during the first Gulf War. Details are provided under the "Know More" button of his profile on the "Our Team" page.

That is a lot of media experience for an ‘agitator’, but then David Flude has shown that he is quite capable and willing to lie at a pathological level, especially when trying to evade 'regulatory requirements'.

David Flude, who lied six times in two emails to evade scrutiny by the Financial Services Regulatory Authority of Ontario (FSRA), also reneged to mention that his ‘agitator’ is a true philanthropist who has donated more than 350 videos to 180 charities, not-for-profits, and benevolent community groups that carry a value greater than $700,000.00. It is due to our team’s commitment to our community that in 2020 our producers were nominated and voted to the highest level for an award for altruism that was presented by the City of Barrie and the Barrie Chamber of Commerce.

There certainly seems to be a lot left out of the story when told by David Flude, and witholding important information is just another method of lying.

This past weekend, December 8-10, our producer donated services over three days to a local charitable organization that works diligently to help the homeless population in Barrie. This is who we are, and we welcome the lenders viewing this page today to review our hundreds of community stories, check out our video testimonials provided by those leading our local benevolent organizations, and see the impact of our reporting on the community.

Unlike the brokers at Verico the Mortgage Station and their allies at HomeEquity Bank, we have nothing to hide, which is why we choose to present everything.

The management team at HomeEquity Bank may have chosen to set aside their ethics in this matter and to prioritize profit over the financial security of their often-vulnerable clientele of seniors and veterans, but we doubt that will be the case when it comes to household names like Scotiabank and Toronto Dominion. They have a public image to maintain, and they will not want their names associated with a story about loan sharks defrauding seniors that is being reported by a credible, well-established, not-for-profit media channel that has a hard-earned reputation for helping their shared community.

They will also want to know exactly why the brokers at Verico the Mortgage Station have done nothing, and we do mean nothing, to refute our fully supported allegations, or even to meet to resolve the issue.

These reputable financial professionals will also likely understand that ethical police detectives do not assess allegations of loan sharking by omitting the evidence of the crime, and then claiming insufficient evidence. That is like saying they cannot arrest a drug dealer because during the raid they were ‘motivated’ to flush the heroin down the toilet. The actions by Detective Muto, which apparently proved acceptable to top brass at the South Simcoe Police Service, are utterly unconscionable. That is why his choices, including the inaccurate and dubious results of his math, are pending review by the Office of the Independent Police Review Director. They will also likely be investigated by less easily motivated detectives of the Ontario Provincial Police Financial Crimes Division.

Those investigators will also be interested in why the detectives of the South Simcoe Police Service shelved our evidence for a year and then tried to whitewash their investigation by ignoring the complainant.

Two of the lenders did not provide an email address online, and one accepted only internal mail and approved senders. However, we managed to reach and receive delivery receipts from the following lenders:

  1. Scotiabank
  2. Toronto Dominion Bank
  3. First National Financial LP
  4. EQ Bank
  5. MCAP
  6. MERIX
  7. Home Trust
  8. CMLS Financial
  9. Manulife
  10. B2B Bank
  1. RFA Bank
  2. Community Trust
  3. ICICI Bank
  4. CMI - Canadian Mortgages Inc.
  5. Bridgewater Bank
  6. Sequence Capital
  7. WealthONE Bank of Canada
  8. Bloom Reverse Mortgage
  9. National Bank
  10. Others pending.

We will allow those we could not reach directly to learn of our story through the ripple effect that is likely to expand out to other mortgage brokers and associated lenders in Canada.

Each of these lenders has now been informed, and we have evidence they received our linked correspondence, so they can no longer feign plausible deniability.

We sent the emails late Friday afternoon, expecting to see them opened on Monday morning, but were quickly hit with the highest wave of traffic we have seen so far. Those visitors came in from static IPs across the province and then elsewhere in the country. Based on past trends, it appeared one or possibly two people opened that email on Friday afternoon and then quickly forwarded it to several colleagues in branches in other cities and provinces.

We cannot claim this as fact but hits poured in by the dozens from various cities within minutes of us receiving a read receipt from a specific lender who had voluntarily acknowledged opening the file.

Our correspondence, included below, presents no new information, but it does contain all the allegations and assertions that have caused the brokers at Verico the Mortgage Station to hide in the shadows for more than 540 days, or just shy of 18 months. It is also embedded with links to the evidence. Neither David Flude, Lisa Purchase, nor Renee Dadswell have denied any of our claims against them, and as noted above, they have all acknowledged their accountability.

It is also a fact that neither the brokers at Verico the Mortgage Station nor the company have filed a civil action, sought injunctive relief, or even sent us a sabre-rattling legal letter.

The brokers at Verico the Mortgage Station have done nothing but hide, and for reasons unknown, but most likely motivated by greed, the management team at HomeEquity Bank have chosen to turn a blind eye and enabled them. The management team at HomeEquity Bank has also never contested our allegations nor questioned the validity of our evidence.

They have all just hoped that we would surrender to their stonewalling and let the issue die out.

Several of the banks listed as lenders also offer a Reverse Mortgage, making them direct competition to HomeEquity Bank. If they are not the ones currently helping us to promote this story, you can be sure they will be using the facts of this case to their benefit. Thanks to the help of our anonymous promoter, our story is now flooding Google and other search engines, so they can easily say that is where they found the facts and evidence of this case of ‘catch me if you can.’

Those competing brokers and lenders also have friends in influential places, so we can only guess where that could take us.

We expect to see a tsunami of traffic to the various pages we linked for easy access, as those who left the office early on Friday afternoon will find the truth of this story on Monday morning. When we first reached out to HomeEquity Bank, dozens of members of their team jumped onto the story before being reigned in by senior staff.

We expect something similar to happen when the truth hits the fan at these other lenders.

This entire matter could have been quelled 18 months ago before David Flude lied six times in two emails to evade his responsibility to meet with his client, discuss the usury that was committed by his broker, and write a report about the crime for the Financial Services Regulatory Authority of Ontario (FSRA).

Instead, he and his brokers have chosen to hide, to get caught lying to their clients, and disregard their obligations to government oversight by ignoring the ‘regulatory requirements’ of their profession. They also ‘motivated’ police to look the other way by omitting evidence and then dismissing the crimes by falling back on their abuses of authority to claim ‘insufficient evidence’. Even these ‘motivated’ police officers would not say the crime had not happened.

All they could do was dig an escape route for whoever was pulling their leash, and hope that their actions would fade away when we stopped reporting on this story.

Sadly for all of the concealers and hiders of the truth, they should have done a little research on how the search engines works, as older files become more effectively annexed in various databases, meaning that ten years from now our stories will pop up much higher on the search engines than they do now. They need to look no further than the results that are being generated now regarding the slumlord and his lawyer who were featured 18 months ago in our story about the death of a man on ODSP who was living in an uninsulated trailer. They can also consider how much more prominent this story is now than it was when we started reporting.

All hiding has accomplished is to push this story and the names of everybody involved, either directly or indirectly, higher in the search results, meaning more people are finding the truth and the evidence.

We welcome calls from representatives of any of the lenders listed and others not named. We will fully honour any request to treat the conversation as confidential.

We can be reached at 705-828-5605 or 416-996-2786.

Email Content: Click here to view the interactive PDF file.

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