Police have shut down a syndicate that fraudulently obtained $11 million in mortgage loans from a bank, arresting three men and a woman.

Aged 33 to 56, they were arrested in various locations yesterday, and suspected forged documents were seized.

The syndicate fraudulently obtained two mortgage loans of $5.5 million each between February and April. It impersonated the true owners of two properties in North Point by using false documents, like identity cards, bank statements and title deeds.

A third fraudulent mortgage for $6 million was successfully suspended.