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£2M Mortgage Fraud

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Rentiers in Court..

http://www.examiner.co.uk/news/west-yorkshire-news/milnsbridge-woman-accused-mortgage-fraud-5682976

They are both similarly charged with obtaining a money transfer, by deception, namely £424,950 from the Halifax, on or about February 10, 2005 in relation to a house in Holwood, Keston, Kent.

Gledhill and Wayne Stubbs are also charged with acquiring or possessing criminal property between June 1, 2006 and May 31, 2008, namely rental income from the Keston property.

Wayne and Wendy Stubbs are both charged with obtaining a money transfer, by deception, namely £1,200,399 from Intelligent Finance, £300,000 from the Cheltenham and Gloucester and attempting to obtain £237,500 from Independent Finance.

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How does one commit mortgage fraud?

Cuz it seems pretty easy and if it's just the banks that get hurt I would quite happily nick a few mill and move somewhere sunny.

Seriously, someone fill me in.

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There must be thousands of liar loan applicants that obtained a money transfer by deception, and are in possession of a criminal property.

How much space do we have in our prisons?

Perhaps I should take out a massive loan, buy a prison, and get the Government to pay per inmate.

Edited by Lord D'arcy Pew

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There must be thousands of liar loan applicants that obtained a money transfer by deception, and are in possession of a criminal property.

How much space do we have in our prisons?

Perhaps I should take out a massive loan, buy a prison, and get the Government to pay per inmate.

:rolleyes::rolleyes::rolleyes:

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So correct me if i am wrong, but the main reason they are gettinv banged up is basically lieing about their income on what i suspect to be a self cert mortgage.....if so it could get messey

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3 million now! Eric!

http://www.dailymail.co.uk/news/article-2765397/Property-trader-masterminded-3million-mortgage-fraud-help-benefits-claiming-mother-sales-assistant-girlfriend.html


Property trader 'masterminded £3million mortgage fraud with help of his benefits-claiming mother and sales assistant girlfriend'
  • Property trader Wayne Stubbs accused of masterminding £3m mortgage fraud with help of mother and girlfriend

  • Wayne Stubbs, Wendy Stubbs, and Rachel Gledhill, overstated incomes in applications for luxury properties, court told

  • Wayne Stubbs claimed to be high-earning ‘unit trust dealer’ but appeared not to have paid any tax or National Insurance since 1995, court heard

  • The trio deny charges against them and are on trial at London's Old Bailey


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Intriguing as to why these people have been taken to court when there are thousands more who took out "liar loans" who are ignored. I suppose it's something to do with tax fraud being involved.

‘They then bought properties on the back of those lies and received a steady income by renting out these properties to paying tenants, income which was never declared and which amounts to the proceeds of criminal conduct.’

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