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eric pebble

A Religious Teacher Obtains £1.7Million Of Fraudulently-Obtained Mortgages.

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Muslim teacher who amassed £1.7m property portfolio using fraudulent mortgage claims while receiving benefits.

A religious teacher who managed to amass a portfolio of ten properties using £1.7million of fraudulently-obtained mortgages has been jailed.

Syed Shah, 45, paid just £24.60 in income tax over a five year period and also claimed benefits despite developing his impressive array of properties, costing the lenders he duped around £450,000.

Are we surprised to read the 10,000th article about this sort of thing...? :rolleyes::rolleyes:

http://www.dailymail.co.uk/news/article-1358556/Muslim-amassed-1-7m-property-portfolio-using-fraudulent-mortgage-claims-jailed.html

Edited by eric pebble

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Those houses are proceeds of crime.

What about all these BTL portfolios being seized and given to councils?

Shame he didn't ask the banks for proof they had the money.

!

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Shame he didn't ask the banks for proof they had the money.

!

INJIN welcome back into existence.

New Labour may have been warned but they dilluded themselves and the country with a one eye'd myopic vision of the nanny superstate smothering us in our own putrid love of debt.

hail the new dogma Big society... Big Brother Newspeak for same shit different day.

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Muslim teacher who amassed £1.7m property portfolio using fraudulent mortgage claims while receiving benefits.

A religious teacher who managed to amass a portfolio of ten properties using £1.7million of fraudulently-obtained mortgages has been jailed.

Syed Shah, 45, paid just £24.60 in income tax over a five year period and also claimed benefits despite developing his impressive array of properties, costing the lenders he duped around £450,000.

Are we surprised to read the 10,000th article about this sort of thing...? :rolleyes::rolleyes:

http://www.dailymail...ims-jailed.html

I can't see this kind of sentance putting anyone off trying the same con. He'll do maybe 3.5 years, and as it's financial crime I'd guess much of it will be in a low security or open prison. And he'll walk out to who knows how many hundreds of '000 in £ in profit. The article didn't indicate that much or any of the proceeds of his con had been confiscated (or that of the bent financial advisor who facilitated it).

We should have a version of the US RICO laws whereby the proceeds can be seized. He should also have got double the sentance as a deterrent.

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Remember those threads about Thamesmead - it seemed there were pandemic levels of fraud in those sort of locations.

The banks, politico's and the money men definitely knew what was going on.

Edited by OnlyMe

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Guest sillybear2

Small fry, you need to ask yourself which bank lent him the money and who now owns the loans? And why aren't they sitting in the dock along side him.

Edited by sillybear2

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Guest sillybear2

Presumably these mortgages would have been Sharia compliant?

Default + repo = no profit from interest :D

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Small fry, you need to ask yourself which bank lent him the money and who now owns the loans? And why aren't they sitting in the dock along side him.

+1

These day's I think how brave the person was in trying the fraud. When all the banksters are still walking the street free men. There is no morality.

Welcome back Injin

Edited by gf3

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Muslim teacher who amassed £1.7m property portfolio using fraudulent mortgage claims while receiving benefits.

A religious teacher who managed to amass a portfolio of ten properties using £1.7million of fraudulently-obtained mortgages has been jailed.

Syed Shah, 45, paid just £24.60 in income tax over a five year period and also claimed benefits despite developing his impressive array of properties, costing the lenders he duped around £450,000.

Are we surprised to read the 10,000th article about this sort of thing...? :rolleyes::rolleyes:

http://www.dailymail.co.uk/news/article-1358556/Muslim-amassed-1-7m-property-portfolio-using-fraudulent-mortgage-claims-jailed.html

One of many Eric how many have we seen already and how many more are to come to light.

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  • 312 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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