Man jailed for £400k mortgage fraud

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A Liverpool man has been jailed for five-and-a-half years for crimes including defrauding mortgage lenders out of £400,000.

The Liverpool Echo reports that Graham Stewart, 43, of Deauville Road in Aintree, got mortgages for three houses in Liverpool and Lancashire by lying about his earnings and job.

He was sentenced in Liverpool Crown Court this week for mortgage fraud, benefit fraud, concealing criminal property and theft.

His mortgage-related crimes were carried out between June 2004 and April 2007.

The court heard he also bought a purchased a £58,000 BMW on finance, then cancelled the direct debits and sent the car to Cyprus, where it vanished.

Stewart filed for bankruptcy in November 2010 but hid assets including two villas in Cyprus and a Rolex worth £35,000.

He also sold his house to a company he owned, rented it back to himself and claimed £7,000 in housing benefit.

Detective chief inspector Dean Holden says: “We are pleased that a three-year investigation into the lies, deceit and ultimately fraud committed by Graham Stewart has resulted in this custodial sentence.

“Stewart’s fraud was not a victimless crime and over time ran to over £400,000, meaning Stewart led a lifestyle most of us can only dream about.”