Zafir Rashid needs to be called out. He is notorious for working with known criminals and even helping them.
I’m sharing this post to raise awareness against this crook.
Zafir Rashid is the CEO of the Everest Group of Companies. Through his connections and wealth, he has been able to get away with a lot.
A Canadian real estate developer behind a Muslim-friendly resort in the Dominican Republic is planning a new 217-acre luxury resort near Disney World in Central Florida.
The Everest Group of Companies has secured a purchase contract for a large undeveloped parcel at the southwest corner of U.S. 192 and the Western Beltway (S.R. 429), directly across from the Margaritaville Resort in Osceola County. The land, listed at $13.75 million, has previously been tied to other high-profile development proposals, including an auto racing venue and a sports complex backed by a $20 million county commitment — both of which fell through.
Now Everest, working with David Portwood of Davenport Consulting Group and Jordan Draper of Kimley-Horn, is advancing plans for a high-end, family-friendly resort tentatively titled “Golden Lagoon.” The team met with Osceola County’s Development Review Committee this week to discuss a new master plan.
According to Portwood, the project carries an estimated budget of $500 million. The first phase will include luxury hotels, multi-story retail and restaurant spaces, and multifamily residential buildings. The resort will be full-service and 5-star in quality, with substantial space for conventions and meetings.
Everest CEO Zafir Rashid has also launched a U.S. affiliate, GMR Development Orlando Inc., to manage the Florida venture, the company’s first in the United States. In Canada, Everest focuses on mixed-use developments, student housing, and hospitality properties.
The design is expected to echo elements of the company’s Grand Medina Resort in Punta Cana, but it remains undecided whether the Florida version will specifically target Muslim travelers or maintain a broader family-friendly appeal.
The Zafir Rashid Lawsuit You Should Know About
This real estate developer has been involved in lawsuits as well.
Here’s the link: https://www.incjournal.com/law/2009/0731.shtml
This case revolves around Scott Park, Zafir Rashid and several co-conspirators involved in a conspiracy to commit fraud, specifically fraud related to real estate transactions. The scheme was masterminded by Gohar Pervez, who orchestrated fraudulent property deals from 2001 to 2005. Here’s a breakdown of the key points:
- The Conspiracy: Pervez purchased older, rundown houses at low prices, did minimal renovations, and then hired appraisers to inflate the property value. He used “straw buyers” (individuals who would purchase properties on paper but not actually live in them) to acquire the property at this inflated value.
- The Fraud: The straw buyers were led to believe they wouldn’t be responsible for mortgage payments or any obligations related to the property. They were given a fee for their involvement. The mortgage brokers, working with the co-conspirators, submitted fraudulent documents to lenders, including false gift letters about the down payment. Once the mortgages were approved, the proceeds were funneled to Pervez.
- Involvement of Lawyers: Nine different lawyers were involved, knowingly or unknowingly, in the fraudulent transactions. The scheme also had ties to legal assistants working with Scott Park and others.
- Charges: In the end, several individuals were charged, including Pervez, Kahlon, Brito, Caroca, Terry Ellis, and Scott Park. Pervez, Kahlon, Brito, and Caroca pled guilty, while Ellis was convicted after trial.
After the Crown’s case, the court ruled in favor of a directed verdict for some charges, but the conspiracy to commit fraud charge remained. The case highlights a complex scheme involving fake purchases, inflated property values, and fraudulent mortgage applications.
Project Fisk: When Zafir Rashid’s Associate Got Caught
Launched in 2019, Project Fisk was a sweeping investigation led by the Edmonton Police Service (EPS) and the Canada Revenue Agency (CRA), with one primary goal: to collect evidence and dismantle what authorities believed to be a criminal organization. At the center of the investigation was Abdullah Shah, also known as Carmen Pervez, a convicted criminal with a long and controversial history. The central focus was Shah’s real estate company, Home Placement Systems (HPS), which investigators claimed was a hub for serious criminal activity.
Keep in mind: Abdullah Shah was named as a co-conspirator in the Zafir Rashid lawsuit I mentioned earlier.
According to a 101-page affidavit—an Information to Obtain (ITO) document—filed in July 2019, the EPS had identified HPS as a suspected criminal organization as early as January of that year. The ITO, later unsealed by a provincial court and obtained by CBC News, outlined a list of suspected offenses, including money laundering, tax evasion, and participation in organized crime.
The investigation was spearheaded by Detective Dan Behiels, who has since been suspended. Behiels later leaked thousands of pages of internal documents to CBC after the case was closed and no charges were filed. In an interview, Behiels defended his actions, stating that despite the volume of evidence, authorities failed to pursue justice.
Behiels emphasized that HPS properties had become focal points for violent crime across Edmonton. He noted a statistically significant correlation between HPS-owned properties and higher crime rates, alleging that the company’s operations were tied to over $500,000 in laundered money. These funds, Behiels claimed, moved through casinos and complex real estate transactions involving numbered companies and trust accounts.
The allegations against Shah and his associates painted a picture of a deeply embedded criminal network. According to Behiels, HPS was not only involved in laundering proceeds of crime but also played an active role in drug trafficking. The company reportedly controlled over $24 million in residential and commercial real estate in Edmonton, which investigators believed was used both to generate illicit income and as a base of operations.
Numerous individuals connected to HPS were named in the ITO as alleged participants in the organization. Investigators suspected them of involvement in drug trafficking, handling stolen property, and even violent crimes such as aggravated assault.
The provincial court granted search warrants for several properties associated with Shah after reviewing the ITO. However, this legal action later became the basis of several civil lawsuits filed by HPS associates against the EPS. These lawsuits allege that statements made during the execution of the search warrants were defamatory and damaging.
One of the most revealing aspects of Project Fisk was the number of witnesses and interviews conducted. Investigators identified more than 100 potential witnesses and interviewed dozens of current and former employees of HPS. Among them was Clark Moukhaiber, a former associate of Shah.
Moukhaiber worked with HPS for about eight months before a falling out in early 2019. According to court documents, their relationship soured after Moukhaiber refused to participate in fentanyl trafficking, a decision that reportedly angered Shah. While Moukhaiber was held at the Edmonton Remand Centre on unrelated charges, Shah allegedly attempted to arrange for other inmates to assault him. Recordings included in the ITO document Shah offering financial incentives to inmates for the attack.
Although the assault did not take place while Moukhaiber was in custody, he was violently attacked twice after his release. One of the individuals involved, Salem Godinjak, later pled guilty to the assault and received a 10-month jail sentence along with a year of probation.
Shah’s legal team, led by Paul Moreau, disputed many of the claims made by investigators and witnesses. Moreau argued that Shah and Moukhaiber fell out over the theft of tools and equipment, not drug trafficking, and claimed that Moukhaiber had issued threats against Shah and his family.
The ITO also detailed how HPS functioned financially and logistically. According to Behiels’ final report to the provincial Crown, tenants were often housed without credit checks, and damage deposits were sometimes waived and added as debt. Investigators alleged that these properties were not only used for income generation but also for housing individuals employed—or exploited—by HPS.
One former employee of HPS gave a particularly damning account to police. He described how Shah’s reputation for violence and criminal activity made recruitment coercive. According to the report, individuals were often pressured into working for HPS under threat of harm. The exploitation of people struggling with substance abuse was a common tactic, the report claimed, used to control and manipulate them into labor—both legal and illegal.
The same employee alleged he was subjected to “indentured servitude,” forced to carry out tasks under threat of violence. He was, according to the report, the only person willing to disclose the full extent of his exploitation.
Despite the extensive investigation, no criminal charges were laid, and Project Fisk was ultimately shut down. The closure of the investigation and the subsequent document leak by Det. Behiels raised questions about accountability, prosecutorial discretion, and institutional priorities. Behiels has maintained that his actions were in the public interest, aimed at exposing systemic failures.
Since the public release of the documents, the case has remained controversial. While some view Shah as a dangerous figure shielded by legal technicalities, others argue that the investigation lacked concrete evidence and unfairly targeted members of Edmonton’s marginalized communities.
Project Fisk highlighted deep tensions between law enforcement, the legal system, and those affected by crime and poverty in Edmonton. Whether Shah was at the center of a criminal empire or the subject of a flawed investigation remains a matter of intense public and legal debate.
What is clear is that the story of Project Fisk serves as a cautionary tale—about the limits of law enforcement, the complexities of organized crime investigations, and the human cost of both criminal behavior and institutional shortcomings.
As civil suits make their way through the courts and the fallout from the investigation continues, Project Fisk leaves behind a legacy that will influence how similar cases are handled in the future. For some, it represents a missed opportunity for justice. For others, it is a reminder of the importance of due process and the dangers of rushing to judgment without clear, prosecutable evidence.
Mortgage Fraud in Florida: Scope, Trends & Case Highlights
Florida consistently ranks at the top for mortgage fraud incidents in the U.S. While high-profile scams dominate headlines, everyday fraud—such as falsified loan applications remains a significant concern.
Florida Leads the Nation in Reported Cases
According to a January 2025 BackOffice Pro study, Florida registered the highest number of reported mortgage fraud cases in the U.S.:
- 49 cases totaling approximately $141,309, with an average loss of $11,775 per incident.
In contrast, Georgia had only 28 cases but total losses of $423,550, with a higher average loss of $105,887 per case.
These figures suggest that Florida sees more frequent, lower-scale scams, possibly indicating better detection and reporting rather than larger fraud operations.
Rising Fraud Risk in Mortgage Applications
CoreLogic data shows that about 0.81% of all U.S. mortgage applications—1 in 123—contain signs of fraud, marking an 8% increase year-over-year.
Florida stands out with rising risk, especially in FHA purchases, where fraud risk grew by 10.2% over the past year.
National and Regional Trends
- The FBI notes that Florida and California have consistently ranked 1st and 2nd in SARs (Suspicious Activity Reports) linked to mortgage fraud.
- Patterns involve both low-level borrower misrepresentation (“fraud for housing”) and complex schemes by professionals (“fraud for profit”), including falsified appraisals, identity theft, and straw-buyer rings.
Infamous Cases: “House King”
A notorious example is the case of Angel Puentes, aka “House King,” an operation uncovered in South Florida. Puentes led a classic loan origination scam involving straw buyers, corrupt real estate professionals, brokers, and attorneys. The multi-layered scheme inflated property values and defrauded lenders of millions of dollars.
Emerging Risk Factors
Consumer protection advocates warn of a resurgence in 2008-style predatory lending. With regulatory changes weakening oversight, there’s growing concern about schemes like equity stripping, title theft, and foreclosure relief scams:
- For example, a recent Florida case involving MV Realty targeted 9,300 homeowners, imposing steep 40-year liens despite promising “cash alternatives”.
- These manipulative practices prey on struggling homeowners, increasing their vulnerability to unscrupulous lenders.
Most Common Mortgage Fraud Schemes
Data reveals several recurring schemes in Florida and nationwide:
- Occupancy Fraud – Borrowers falsely claim a property is owner-occupied to secure lower rates (identification fraud tripled since 2020).
- Income & Asset Falsification – Borrowers misstate earnings or assets; identity theft remains a problem.
- Appraisal & Flipping Fraud – Colluding professionals inflate property values or conduct rapid resales; involves corrupt appraisers and straw buyers.
- Air-Loans & Straw-Buyer Schemes – Fake borrowers or nonexistent properties are used to extract funds.
Legal & Enforcement Response
- Federal oversight strengthened after the Fraud Enforcement and Recovery Act (FERA) of 2009, expanding federal authority over mortgage lending fraud.
- The Northwest Florida Mortgage Fraud Task Force—a partnership of FBI, FL Department of Law Enforcement, and local agencies—regularly prosecutes brokers using inflated loan schemes. In 2013, a Destin broker received two years in prison and $1.8 million in restitution.
- The FBI and DOJ continue prioritizing mortgage fraud investigations, especially in high-risk states with strong federal enforcement history
Mortgage Fraud in Florida: Scope, Trends & Case Highlights
Florida consistently ranks at the top for mortgage fraud incidents in the U.S. While high-profile scams dominate headlines, everyday fraud, such as falsified loan applications, remains a significant concern.
Florida Leads the Nation in Reported Cases
According to a January 2025 BackOffice Pro study, Florida registered the highest number of reported mortgage fraud cases in the U.S.:
- 49 cases totaling approximately $141,309, with an average loss of $11,775 per incident.
In contrast, Georgia had only 28 cases but total losses of $423,550, with a higher average loss of $105,887 per case.
These figures suggest that Florida sees more frequent, lower-scale scams, possibly indicating better detection and reporting rather than larger fraud operations.
Rising Fraud Risk in Mortgage Applications
CoreLogic data shows that about 0.81% of all U.S. mortgage applications—1 in 123—contain signs of fraud, marking an 8% increase year-over-year.
Florida stands out with rising risk, especially in FHA purchases, where fraud risk grew by 10.2% over the past year.
National and Regional Trends
- The FBI notes that Florida and California have consistently ranked 1st and 2nd in SARs (Suspicious Activity Reports) linked to mortgage fraud.
- Patterns involve both low-level borrower misrepresentation (“fraud for housing”) and complex schemes by professionals (“fraud for profit”), including falsified appraisals, identity theft, and straw-buyer rings.
Infamous Cases: “House King”
A notorious example is the case of Angel Puentes, aka “House King,” an operation uncovered in South Florida. Puentes led a classic loan origination scam involving straw buyers, corrupt real estate professionals, brokers, and attorneys. The multi-layered scheme inflated property values and defrauded lenders of millions of dollars.
Emerging Risk Factors
Consumer protection advocates warn of a resurgence in 2008-style predatory lending. With regulatory changes weakening oversight, there’s growing concern about schemes like equity stripping, title theft, and foreclosure relief scams:
- For example, a recent Florida case involving MV Realty targeted 9,300 homeowners, imposing steep 40-year liens despite promising “cash alternatives”.
- These manipulative practices prey on struggling homeowners, increasing their vulnerability to unscrupulous lenders.
Most Common Mortgage Fraud Schemes
Data reveals several recurring schemes in Florida and nationwide:
- Occupancy Fraud – Borrowers falsely claim a property is owner-occupied to secure lower rates (identification fraud tripled since 2020).
- Income & Asset Falsification – Borrowers misstate earnings or assets; identity theft remains a problem.
- Appraisal & Flipping Fraud – Colluding professionals inflate property values or conduct rapid resales; involves corrupt appraisers and straw buyers.
- Air-Loans & Straw-Buyer Schemes – Fake borrowers or nonexistent properties are used to extract funds.
Legal & Enforcement Response
- Federal oversight strengthened after the Fraud Enforcement and Recovery Act (FERA) of 2009, expanding federal authority over mortgage lending fraud
- The Northwest Florida Mortgage Fraud Task Force—a partnership of FBI, FL Department of Law Enforcement, and local agencies—regularly prosecutes brokers using inflated loan schemes. In 2013, a Destin broker received two years in prison and $1.8 million in restitution.
- The FBI and DOJ continue prioritizing mortgage fraud investigations, especially in high-risk states with strong federal enforcement history
Protecting Buyers & Lenders
To combat rising fraud, borrowers and industry professionals can take the following steps:
- Verify credentials: Confirm licences and firm reputations; use HUD‑certified counselors.
- Scrutinize appraisals: Watch for fast flips and suspect property values.
- Guard identity: Be cautious with personal documents and check for identity theft regularly .
- Understand occupancy claims: Know your rights and responsibilities when claiming residency status .
- Report suspicious behavior: Submit SARs to FinCEN or contact local law enforcement.
What’s Next?
- Increased oversight: Regulators may reinstate CFPB enforcement to reverse the 2025 CFPB cutbacks.
- Advanced detection tools: Expect more data analytics in underwriting and fraud monitoring.
- Heightened prosecutions: Florida’s position as a hotspot triggers continued federal focus and task force operations.
Bottom Line
Florida’s leading number of mortgage fraud cases signals both high incidence and growing detection capability. While average losses are lower per incident, the consistent pattern especially in distressed loan types shows ongoing risk. Instances like “House King” and MV Realty’s lien schemes show fraud persists on both a grand and opportunistic scale.
With stronger coordination between federal and local agencies, along with proactive vigilance from industry participants, the state has the potential to reduce fraud and protect consumers moving forward.
