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Realistbear

Liar Loans & Mortgage Fraud Now Among Biggest Police Investigations

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http://www.guardian.co.uk/business/2009/au...-fraud-increase

Huge increase in mortgage fraud, report police

With Bradford & Bingley and Chelsea Building Society recently affected by criminal gangs, police estimate that mortgage fraud is now 'one of the biggest areas of investigation'

Phillip "Phil" Inman

* guardian.co.uk, Sunday 30 August 2009 15.44 BST

Last year the Association of Chief Police Officers estimated that mortgage frauds rake in £700m a year. Photograph: Andrew Parsons/PA

City of London police has reported a 72% increase in cases of financial fraud largely driven by a jump in mortgage scams over the previous year.

The force said allegations of mortgage fraud had reached double figures and were one of the largest areas of activity for its officers..../

"While the amounts of money we are dealing with are significant, I don't think we are seeing the full picture. It is a fraction of the amount of fraud that has taken place. It is the mortgage lenders that are hit by the crime and they usually see it first. It would be good if the lenders were coming forward more than they are at the moment."

:o :o:o

No wonder the property scammers are spiking the news and getting people worked into a frenzy to get HPi back on track. Their source of income had dried up and without HPI their business will no longer exist.

Edited by Realistbear

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Clueso had more clue than our useless detectives...

if a crime isnt reported to them...they do nothing...too much trouble.

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And still no one is prepared to admit that this has ensured everyone has over paid for their house.

Yup == The Greatest SCAM of all time - The Greatest Pyramid Selling SCAM of all time --- The Greatest FRAUD in History -- and it's all been going on day in, day out..... AND it was perpetrated in large measures by the lenders themselves.... Look no further than [the former] HBOS -- Northern Crock O'Shit, Bradford & Bingley..... It went on/goes on DAILY... see all details below in my signature...

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......mortgage fraud is now 'one of the biggest areas of investigation'.

errrr? key words: horse, bolted, stable door.

Forget it! Watch it happen and now the police want to investigate. As another poster has already mentioned there was a massive crossover between "property development" (in recent times 'street talk' for laundering drug money).

Where I grew up wasn't exactly hard to connect the dots when you see 30-40k cars parked outside of houses that 15yrs ago cost 15k...............for 2! (no joke!)

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......mortgage fraud is now 'one of the biggest areas of investigation'.

errrr? key words: horse, bolted, stable door.

Forget it! Watch it happen and now the police want to investigate. As another poster has already mentioned there was a massive crossover between "property development" (in recent times 'street talk' for laundering drug money).

Where I grew up wasn't exactly hard to connect the dots when you see 30-40k cars parked outside of houses that 15yrs ago cost 15k...............for 2! (no joke!)

You saw/see that a lot actually!

But - the ONLY thing that has really come down in price in a major way is cars...... You can pick up a pretty decent motor for £1k these days -- and an amazingly good'n for £3-4k..........

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Well, if there's been massive fraud, surely the fraudsters will be brought to justice.

:unsure:

Sorry, what's that? Another effect of Labour's non-policies on immigration, apart from leaving the door on the latch, is that many criminals have poured into the UK and have been siphoning off vast amounts of money, wrecking our economy in the process, and then high tailed it back to bongobongo land leaving us taxpayers to refund the defrauded banks?? Oh, ok.

And what's that...? We can't criticise because its all part of "globalisation"... which is a good thing.

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Well, if there's been massive fraud, surely the fraudsters will be brought to justice.

Nope. Knighthoods - given to them by Gordon the Moron.

SIR James Crosby

SIR Fred Goodwin

............ and many more.......

Fraudsters - Get knighthoods.......... How insane is that??

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Well, if there's been massive fraud, surely the fraudsters will be brought to justice.

:lol::lol::lol:

No one will be brought to justice unless there is revolution. This fraud was done with the blessing of the govt, Blair, Brown etc.... aren't about to hand themselves over to the police.

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Nope. Knighthoods - given to them by Gordon the Moron.

SIR James Crosby

SIR Fred Goodwin

............ and many more.......

Fraudsters - Get knighthoods.......... How insane is that??

course...the CREDIT WAS FLOWING...thats all we need, more criminals.

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So you want to empty the jails to bring economic growth.

Radical idea.

indeed, we need fraudsters to buy up all the flats, thugs to collect the rents and council tax defaulters for "the games"

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......mortgage fraud is now 'one of the biggest areas of investigation'.

errrr? key words: horse, bolted, stable door.

Forget it! Watch it happen and now the police want to investigate. As another poster has already mentioned there was a massive crossover between "property development" (in recent times 'street talk' for laundering drug money).

Where I grew up wasn't exactly hard to connect the dots when you see 30-40k cars parked outside of houses that 15yrs ago cost 15k...............for 2! (no joke!)

Thing is, when the lending standards of the banks had reached the point where they handed over 6 figure sums without even asking for a payslip, then how was it even possible to commit fraud against them? How do you steal from someone who is walking around handing out bundles of £50s to anyone who asks?

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Thing is, when the lending standards of the banks had reached the point where they handed over 6 figure sums without even asking for a payslip, then how was it even possible to commit fraud against them? How do you steal from someone who is walking around handing out bundles of £50s to anyone who asks?

Well put.

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When are "they" going to wake up to the fact that the bonus scams are no different from a heist. Its worse now because its our money they are robbing. The liar loans were nothing less than robbery in that there was no realistic hope of vast amounts ever being repaid--as long as the banksters got their bonuses and commissions the damage to the bank was not even given a thought.

Bank robbery on a huge scale and they have pulled it off.

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When are "they" going to wake up to the fact that the bonus scams are no different from a heist. Its worse now because its our money they are robbing. The liar loans were nothing less than robbery in that there was no realistic hope of vast amounts ever being repaid--as long as the banksters got their bonuses and commissions the damage to the bank was not even given a thought.

Bank robbery on a huge scale and they have pulled it off.

Yup - It's so big - no one notices anymore - it's the biggest EVER elephant in the room - the greatest financial swindle of all time..........

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