Friday, May 30, 2008

The final paragraph of this article is VERY interesting

Gang groomed bank staff in multi-million pound scam

Mortgage fraudsters wined and dined staff from sub-prime lenders and entertained them with boxes at Premiership games but used chainsaws and guns to intimidate people who stood in the way of their multi-million pound scam, a recent British Bankers Association conference heard. The gang used a simple ‘flipping’ scheme, buying about 60 properties at inflated prices to defraud banks, Simon Chandler, partner at law firm CMS Cameron McKenna, told delegates at the mortgage fraud conference in London.

Posted by jack c @ 12:43 PM (722 views)
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One thought on “The final paragraph of this article is VERY interesting

  • you mean this bit:

    “Chandler handed the case files to the police but no arrests had yet been made, he said.”

    I wonder how many senior banking figures were involved then. this is the sort of expose that in a less corrupt country, would be front page news.

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