IFA who aided multi-millionpound loan fraud is jailed
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An IFA was sentenced to five and a half years in jail at Birmingham Crown Court last week for falsifying mortgage applications on behalf of a client.
West Midlands Police say IFA Mark Campbell, of Oakwood Financial Management, assisted client Michael Browne to lead a multi-million-pound mortgage fraud racket in the Midlands.
Browne, from Canley in Coventry, built up a portfolio of property across the city on the back of a string of false mortgage applications.
He was sentenced to three years in prison but had his sentence reduced due to time spent on remand and the fact that he entered a guilty plea.
Police say Browne “used the specialist skills and knowledge” of Campbell to acquire loans overstating his income in mortgage applications.
Campbell was convicted after the jury heard how he falsified incomes and produced false letters of employment and references.
According to police, Campbell, also from Coventry, obtained mortgages for Browne and his family and associates with a “no questions asked attitude”, without signing forms or producing proof of income.
Campbell also used the services of Andrew Harris from Keresley in Coventry to produce false pay slips. Harris pleaded guilty in 2009 and will be sentenced at a later date.
Regional Asset Recovery Team Det Inspector Chris Berrow says: “Browne pleaded guilty at an early stage when he saw the overwhelming evidence against him. Campbell, however, denied the fraud to the end, even though there was overwhelming documentary evidence that showed he lied to banks and lending institutes time and time again.
“Campbell abused his position and used his knowledge and skills to obtain a mortgage for anyone who wanted one, no matter whether they were emp-loyed or not. He even acquired property for family members using false applications to ensure they benefited, too.”
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