The FSA found that Ahmed submitted three mortgage applications containing false information about his personal and financial circumstances. The applications were supported by the submission of false P60 forms and payslips.
He also failed to disclose the true extent of his property holdings when applying for a mortgage and while working for The Mortgage Exchange, was knowingly concerned in the submission of false mortgage applications on behalf of eight customers.
FSA head of retail enforcement Jonathan Phelan says: “Mr Ahmed lacks honesty and integrity in relation to his own personal financial dealings. His actions were serious and blatant.
“As this case demonstrates, our crackdown on mortgage fraud includes paying attention to the work of individual mortgage advisers and introducers as well as to approved persons and authorised firms. We banned over 20 mortgage brokers last year, and we will continue to make examples of people who commit mortgage fraud and who help others to commit mortgage fraud, in order to change behaviour.”