Surveyor fraud case jury fail to reach verdict
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A jury in the case of a surveyor accused of inflating the price of a property so a £3m mortgage could be obtained has been discharged after being unable to reach a verdict following two days of deliberation.
Dr Christopher Jarvis, 66, of Hawcroft, Staffordshire, appeared before Stafford Crown Court on July 23 accused of fraudulently exaggerating the price of a manor house.
The court heard that Jarvis had valued Barn Bank Manor at £4.5m and as a result the Yorkshire Bank advanced a £3m mortgage.
Other surveyors had valued the property at £1.2m. But following the conclusion of a twoweek trial, Judge John Maxwell discharged the jury when they were unable to reach a verdict.
Jarvis was bailed and the Crown Prosecution Service will now have to consider whether to bring a second prosecution.
Prosecutor Jane Bewsey said: “It is the Crown’s case that Jarvis agreed with Cope to produce a valuation report giving that massively inflated valuation in order for Cope to secure that £3m advance.”
The court heard that Cope had first bought Barn Bank Manor in 2001 for £425,000 with a mortgage of £350,000.
It was later extended and more land was bought. In 2007, Cope secured the £3m remortgage based on Jarvis’ valuation.
Jarvis said in a statement that he stood by the valuation: “It was done by me in the full knowledge of what I was looking at. There were no comparisons in this instance because it was such a unique property. This was my genuine belief it was its true worth at the time. I strongly disagree with the valuation of £1.2m.”
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