Eleven people in southwestern Nova Scotia have been charged following a three-year RCMP mortgage fraud investigation.

RCMP say 10 of the people face a total of 146 fraud-related charges, while one is accused of obstructing police.

Investigators say forged documents and inflated appraisals were used to buy more than 50 properties and estimate the total value of the fraud is more than $6 million.

Raymond Nelson, a former real estate agent and mortgage broker, faces 66 charges of forgery and fraud.

Another well-known Yarmouth resident facing charges is Wade Doucette, the president of GW Realty — a company that buys and sells apartment buildings.

Doucette faces 25 charges of fraud over $5000.

in 2008, the Nova Scotia Real Estate Commission noticed some suspicious transactions in the Yarmouth area.

RCMP was called in and suspended Nelson's license.

A year later, in the fall of 2009 the scheme began falling apart, banks started foreclosing on more than 24 apartment buildings after the owners stop making payments.

Nearly 200 renters were forced out of their units — many with no where else to live.

RCMP officials say all 11 people charged know each other, although they stopped short of calling it an organized ring.

The mayor of Yarmouth told CBC News Wednesday that a lot of people suffered when the banks started foreclosing on these properties back in 2009.

Phil Mooney said many affected were low-income residents, who lost hundreds of dollars in damage deposits when they were forced to find new places to live.

All of those facing charges are scheduled to appear in Yarmouth provincial court on Sept. 13.

With files from The Canadian Press