Brokers banned and fined £450k
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The FSA has banned four mortgage brokers and imposed fines totalling £450,000 for mortgage fraud.
Gemmini Mortgages founder and sole director Joseph Chinedu Nwosu was fined £200,000 and banned from working in financial services for attempting 14 cases of mortgage fraud over 26 months. Jageet Kaur, a mortgage adviser at Gemmini, was banned from working in financial services for knowingly submitting five false and misleading personal mortgage applications.
Whitehouse Estate Agents and Financial Services director Alaba Adewale Adebajo has been banned from working in financial services and fined £150,000 for submitting five cases of mortgage fraud and failing to kept sufficient records.
Alistair Curren of B-Assured Financial was fined £100,000 and banned from working in financial services for fraudulent mortgage applications, failing to declare income to HM Revenue & Customs and failing to comply with FSA requirements imposed on him aimed at tackling the risks posed by him to customers.
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