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The Masked Tulip

Policeman's Wife 'overvalued Top Properties In Multi-Million Pound Mortgage Scam In Return For £1M In Cash And Gifts'

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A policeman's wife took part in a £10 million mortgage scam in exchange for high-value cars and money to buy a new house, a court heard today.

Mary-Jane Rathie, a senior surveyor, allegedly overvalued a string of top London properties in return for 'gifts' of more than £1 million, jurors were told.

Rathie, 43, was said to have received £900,000 in cheques and money transfers plus a Bentley Continental and a Range Rover Sport.

The vehicles, together worth nearly £200,000, were both registered in the name of her husband David, 47, a Metropolitan Police officer with the central London traffic unit, the Old Bailey heard.

David Durose, prosecuting, said: 'This was payment to Mrs Rathie for her dishonest valuations.'

He said the money was used to pay off a mortgage and to buy a new property.

Mrs Rathie, of Waltham Cross, Hertfordshire, denies five allegations of fraud between May 2007 and June 2009, while she and her husband, of Cheshunt, Hertfordshire, each deny a charge of concealing criminal property.

She is alleged to have provided 'dishonestly-inflated' valuations for a woman known as Joanne Pier, who used them to secure millions of pounds in mortgages from the Bank of Scotland.

The court heard that the false valuations included a riverside property in Cheyne Walk, Chelsea; a flat in Cadogan Gardens, Belgravia, near Sloane Square; and another at Chester Mews, at the back of Buckingham Palace.

A fourth property was in the Docklands, east London, and a fifth in Pimlico.

Mr Durose said Ms Pier obtained more than £10 million of loans, £9.5 million of which relied on valuations by Rathie, who was managing surveyor in the Finchley office of a large firm of chartered surveyors called Ashdown Lyons.

Read more: http://www.dailymail.co.uk/news/article-1394870/Policemans-wife-overvalued-properties-multi-million-pound-mortgage-scam-return-1m-cash-gifts.html#ixzz1OWDigArt

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What is it about coppers and their relatives and property crime? Back in 2000 Anne O'Grady (an inspector at the time iirc) and Hubby Eugene (an accountant and Special constable) were nicked for property related fraud.

Eugene shared a prison pad with Joe Bowden who you might remember was the 'farmer' chappie who got nicked for claiming EU subsidies for growing crops in the middle of the North Sea (and actually a throroughly nice guy).

Edited by Live Peasant

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And I'm sure the policeman husband was completely unaware of her dealings and just registered £200k of cars in his name by accident.. Bet she thought being in his name they would be untouchable.

Who is bringing the case against her?

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And I'm sure the policeman husband was completely unaware of her dealings and just registered £200k of cars in his name by accident.. Bet she thought being in his name they would be untouchable.

Who is bringing the case against her?

The government via HBOS maybe behind the case (cant imagine the Met pushing it too hard :ph34r:

She is alleged to have provided 'dishonestly-inflated' valuations for a woman known as Joanne Pier, who used them to secure millions of pounds in mortgages from the Bank of Scotland.

Taxpayers conkers-deep again. FFS.

Edited by cheeznbreed

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While I rather dislike her, if her lawer doesn't get her off, he's a muppet.

She put the money into property. On that basis she could say she thought prices would rise, in which case, her valuation on the basis or rising prices would be fair and accurate... as it would have if prices had risen as she expected.

Put simply: She'll plead incompetance.

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Apparently in the 70s some in the met were investigated for the money in envelopes culture and the tell tale signs of expensive houses and cars (apparently even mercs :o). Peanuts really compared to Cheyne Walk houses etc and Bentley Continentals etc.

Mind you in those days I guess the wife's input wasn't normally so significant.

Edited by billybong

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Apparently in the 70s some in the met were investigated for the money in envelopes culture and the tell tale signs of expensive houses and cars (apparently even mercs :o). Peanuts really compared to Cheyne Walk houses etc and Bentley Continentals etc.

Mind you in those days I guess the wife's input wasn't normally so significant.

I read somewhere that the opposite is true now due to high levels of estrogen in the water supply.

p-o-p

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While I rather dislike her, if her lawer doesn't get her off, he's a muppet.

She put the money into property. On that basis she could say she thought prices would rise, in which case, her valuation on the basis or rising prices would be fair and accurate... as it would have if prices had risen as she expected.

Put simply: She'll plead incompetance.

But the valuation must be based on "now", not at some predicted point in the future so I disagree.

Throw the book at her, make an example, etc, etc.

Also her husband profited from the proceeds of crime so he should go down too. On the other hand, he is a copper so better let him off.

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Put simply: She'll plead incompetance.

Is it normal for valuers to get £200k of cars are nearly a million in cash for valuing a handful of houses? If so, I'm in the wrong game.

She benefitted massively and therefore can't plead ignorance. Putting the cars in the coppers name just proves she was trying to hide it

Edited by exiges

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was the chartered surveyors making the loans?

Who did the occasional spot checks on valuations?

Which Bankers colluded with this scam?

How much are taxpayers going to recieve in compo from the surveyors firm and the banks?

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What is it about coppers and their relatives and property crime? Back in 2000 Anne O'Grady (an inspector at the time iirc) and Hubby Eugene (an accountant and Special constable) were nicked for property related fraud.

Eugene shared a prison pad with Joe Bowden who you might remember was the 'farmer' chappie who got nicked for claiming EU subsidies for growing crops in the middle of the North Sea (and actually a throroughly nice guy).

May be tales of the copper's day at work put ideas in their heads.

"The other day my love, I came across these villains with the most amazing scam to make millions and they almost got away with it, but for one minor detail......."

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But the valuation must be based on "now", not at some predicted point in the future so I disagree.

Throw the book at her, make an example, etc, etc.

Also her husband profited from the proceeds of crime so he should go down too. On the other hand, he is a copper so better let him off.

I'd say half of UK surveyors are guilty on some form or other. Lock them all up.

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I'd say half of UK surveyors are guilty on some form or other. Lock them all up.

True, although those fraudulent valuations only hurt members of the pubic so they won't get justice. :(

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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