Friday, August 21, 2009
Can we expect an FSA investigation sometime soon then?
This raises a number of questions. Firstly, assuming this was not one single buy-to-let investor defrauding the Chelsea BS, how much responsibility should the Chelsea BS take for allowing themselves to be 'defrauded'? Secondly, is this fraud because Chelsea BS didn't make checks on the validity of information being provided? Are the actions of Chelsea BS's 'fraudulent' customers defined as fraud because Chelsea misjudged the property market by any chance? I expect the FSA will be hot on the case, bringing those responsible to swift justice. Or not.