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North Wales..mortgage Fraud

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Fourteen people, including a solicitor, surveyors, valuers and mortgage advisers, have appeared in court charged in connection with an alleged £20m conspiracy to defraud.

It follows a two-year inquiry by North Wales Police into alleged multiple fraudulent mortgage applications.

The defendants made their first appearance before Flintshire magistrates on Thursday.

They were granted bail until a crown court hearing in April.

The defendants are Nicholas John Jones, 52, of Leeswood, Flintshire; Frank Edward Darlington, 59, of Kelnbrook, Barnoldswick, Lancashire; Christopher Hansen, 48, of Kinmel Bay, Conwy; Lisa Margaret Hansen, 41, of Kinmel Bay; Antony Lowry-Huws, 62, of Kinmel Bay; Raymond Charles Whalley, 36, of Prenton, Merseyside; Sheila Rose Whalley, 65, of Llanfairtalhaiarn, near Abergele; Linda Campbell, 40, of Glasgow; Michael Georgieff-Jones, 67, of Dyserth, Denbighshire; Susan Margaret Lowry-Huws, 58, of Kinmel Bay; David Arthur McMeekin, 54, of Riddrie, Glasgow; Brendan Derek Spencer-Whalley, 43, and Nicola Jane Spencer-Whalley, 38, of Royan, France; and George Walker, 57, of Colwyn Bay, Conwy.

All defendants were rebailed before a preliminary hearing at Caernarfon Crown Court on 13 Apri

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Don't think we have done that one but mortgage fraud is rife in that area

The Financial Services Authority (FSA) has banned five mortgage intermediaries and fined one of them £104,000. This brings the total number of mortgage intermediaries banned since December 2006 to 101.

Most of the individuals have been banned because they are not fit and proper to work in regulated financial services through failings that led to mortgage fraud.

Mark Thorogood trading as Property Park Mortgages, Colwyn Bay, North Wales and Darren Button formerly of Property Park Mortgages, Colwyn Bay, North Wales

Thorogood, the owner of Property Park Mortgages, has been fined £104,294 and banned from working in regulated financial services.

The FSA found that Thorogood had knowingly submitted fraudulent mortgage applications for himself and his wife, inflating his income from £22,950 to £120,000 and her income from £8,832 to £95,000.

In addition, Thorogood submitted two mortgage applications containing fraudulent information on behalf of a family member. In the first application he stated the family member’s income was £85,000 and in the second he stated that it was £130,000; the actual income was £17,610.90.

Thorogood also failed to have a documented system for supervising the activities of advisors at the firm. Some of the files reviewed by the FSA showed record keeping failures and a lack of evidence to support the income stated on the mortgage applications.

The FSA has also prohibited Darren Button, a former advisor at the firm, for deliberately entering false income and employment information in mortgage applications which he then submitted to lenders.

Button also attempted to conceal a customer’s true income on a payslip with correction fluid because he knew the lender would reject the application if they saw the genuine income.

Button was also aware of other fraudulent applications but took no action to prevent this as he thought ''it didn’t seem to be a huge problem''.


As a result some people in that area now think a crappy 2 bed bungalow is worth £465,000


Edited by Redhat Sly

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There is a Swansea solicitor currently on trial, in Cardiff Crown Court I believe, in relation to charges of mortgage fraud.

Several articles on the ongoing trial here:


The trial is ongoing.

Everyone is innocent unless a trial finds them otherwise so as is the case with all of these people we should allow the respective trials to run their full course before commenting on them.

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Looks like the Serious Fraud Squad are a tad busy in Wales? This is breaking news on the Western Mail site.

Two solicitors suspended from top Welsh firm as Serious Fraud Office investigates

Two partners at one of Wales’ leading law firms have today been suspended following an investigation by the Serious Fraud Office (SFO).

In a statement, Cardiff-based M&A Solicitors said Alan Whiteley (pictured left), 47, from Bridgend, and Eric Evans, 65, from Abergavenny, had been suspended with immediate effect.

It comes after five people were yesterday arrested on suspicion of conspiracy to defraud in relation to the sale of four mining sites in South Wales.

The SFO confirmed in a press statement that those arrested were three men, aged 65, 36, and 31, in South Wales, a 47-year-old man in London and a 28-year-old woman in Birmingham.

They were interviewed and released on bail pending further enquiries.

Read More http://www.walesonline.co.uk/news/wales-news/2011/03/17/two-solicitors-suspended-from-top-welsh-firm-as-serious-fraud-office-investigates-91466-28356041/#ixzz1GtD4U2sW

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  • 311 Brexit, House prices and Summer 2020

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