Bank of Montreal (BMO -2%) is suing lawyers, brokers and some of its own employees for an...

|About: Bank of Montreal (BMO)|By:, SA News Editor

Bank of Montreal (BMO -2%) is suing lawyers, brokers and some of its own employees for an alleged C$140M mortgage scam which might have cost it as much as $30M. "Straw buyers" would allow their names to be used to obtain mortgages on homes in exchange for a fee of up to C$8,000, using false salary and income statements.