Greg Martel

Greg Martel is an entrepreneur and businessman who founded Shop Your Own Mortgage, an online mortgage company operating in Canada, the US, and Australia.1 Here are some key details about Greg Martel:

Professional Background

• Founded Shop Your Own Mortgage in December 20161
• Created the My Mortgage Auction app, a mobile document wallet and mortgage application tool1
• Previously owned Zilla GroupCo, a mortgage brokerage with offices in Victoria and Vancouver, BC1
• Received his mortgage broker license in 2006 and started his own brokerage company in 2009 at age 322

Career Achievements

• Recognized as the best newcomer in Canada's mortgage brokerage industry in 20102
• Made the country's top 50 list of brokers for several years, handling $89 million in mortgages in 20102

Recent Developments

Unfortunately, Greg Martel has become embroiled in serious legal and financial troubles:

• Accused of running a $317 million Ponzi scheme through his company My Mortgage Auction Corp. (MMAC), also known as Shop Your Own Mortgage3
• The scheme allegedly lured investors with promises of extremely high returns, sometimes up to 100% annually3
• Bankruptcy proceedings revealed that investor funds were not used for real estate bridge loans as claimed, but instead diverted to earlier payouts, other ventures, and personal expenditures3
• Currently, 930 creditors have filed claims totaling $317 million against Martel3
• Warrants have been issued for his arrest in both Canada and the US, and his current whereabouts are unknown3

It's important to note that these allegations are still under investigation by authorities, and Martel has denied any wrongdoing.3