Canadian police on Thursday launched criminal investigations against Indian Canadian MP Devinder Shory and dozens of others named in the country's biggest mortgage fraud.

In its lawsuit filed last week, the Bank of Montreal - which is one of the top five Canadian banks - had named Shory along with over 100 people in the $69.5-million mortgage scam. Lawyers, brokers and the bank's own staff are among those named in the mega-fraud. The bank said it lost $30 million in the scam.