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Gateshead broker jailed for £2.2m mortgage swindle

A Gateshead mortgage broker has been jailed for three years and nine months for his part in a £2.2m fraud and for witness intimidation.

Martin Watson, 54, from Ponteland, admitted charges of conspiracy to obtain money transfers by deception, witness intimidation and perverting the course of justice before Newcastle Crown Court on May 27.

Accountant Paul Robertson, 51, from South Shields, also admitted deception charges and was jailed for 12 months.

The court heard how, from 2004, Watson, a self-employed mortgage broker with an office in Gateshead, inflated salaries and earnings of clients to obtain more than 20 mortgages, earning him substantial commission.

Evidence was given that during the police investigation, Watson threatened witnesses and even impersonated a Crown Prosecution Service officer.

In Watson’s defence, it was said he had been motivated by a desire for social status rather than to gain money.

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  1. Wow, how many mortgage brokers have done this over the last few years? I came across a broker who inflated a salery from 7k to 45K!

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