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FSA bans three South London brokers for false mortgage applications

The FSA has banned three South London brokers for submitting false mortgage applications to lenders backed by faked documents.

The three brokers are Rafiu Adisa Akanbi trading as Rafin Adisa Akanbi in Greenwich; Erinma Didi Jordan at Trekfree Associates Ltd in Peckham; and Byron Brown, principal and director of Millbank Consultancy Limited in Balham and Millbank Mortgages Limited in Lewisham.

It has also cancelled the trading permissions of Akanbi and Millbank Consultancy Limited.

Akanbi submitted mortgage applications which were supported by false identification documents such as driving licences, passports and utility bills. The FSA says he repeatedly failed to co-operate with its investigation.

Jordan also submitted mortgage applications which were supported by false identification documents and false income and employment details.

The FSA says one customer of Jordan’s whose application was backed by a faked accountant’s certificate and falsified copies of his passport, a council tax bill and a rental valuation of his current property told the FSA he had never heard of, or had any deals with Jordan.

Jordan also failed repeatedly to co-operate with the FSA’s investigation.

The FSA says that Brown deliberately entered false salary and employment information on a customer’s mortgage application forms without his knowledge and submitted the forms to lenders.

This led to the customer becoming the subject of a disciplinary investigation by his employer.

Head of retail enforcement Jonathan Phelan says: “The actions of these brokers posed a risk to lenders, and banning them supports the FSA’s remit to tackle financial crime as well as to protect consumers and promote confidence in the financial system. It is part of a wider FSA effort to tackle mortgage fraud, which includes us working alongside other authorities such as the police, and acting on information received from lenders and whistleblowers.”

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