FREDERICTON – William Priest-Phillips, a 49-year old Nackawic man, has been sentenced in Fredericton Provincial Court to three years in prison in connection with a mortgage fraud investigation led by the New Brunswick RCMP’s Commercial Crime Section.

As part of a five month investigation, Priest-Phillips and his company, Priest-Phillips Management Corp., were both charged with one count each of fraud over $5,000 and one count of uttering forged documents for submitting several mortgage applications containing falsified documents to Scotiabank.

The investigation was generated from tips received from the New Brunswick Securities Commission.