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Surveyor charged with £10m Bank of Scotland mortgage fraud

A surveyor has been charged for her part in a £10m mortgage scam in exchange for high-value cars and money to buy a new house.

Mary-Jane Rathie allegedly overvalued a string of London properties in return for “gifts” of more than £1m, the Old Bailey heard.

Rathie is said to have received £900,000 in cheques and money transfers plus a Bentley Continental and a Range Rover sport.

The vehicles were both registered in the name of her husband, David, a Metropolitan police officer.

David Durose, prosecuting, said: “This was payment to Mrs Rathie for her dishonest valuations.”

Mrs Rathie denies five allegations of fraud between May 2007 and June 2009, while she and her husband each deny a charge of concealing criminal property.

She is alleged to have provided “dishonestly inflated” valuations for a woman known as Joanne Pier, who used them to secure millions of pounds in mortgages from the Bank of Scotland.

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Comments

There are 7 comments at the moment, we would love to hear your opinion too.

  1. This will just be the tip of the iceberg in terms of secured lending fraud during the boom years!

  2. Lenders wonder why they are sitting on so much property in negative equity. Very few IFAs involved in this type of scam mostly Solicitors and Valuers.

  3. Fraser Brydon 7th June 2011 at 3:05 pm

    when you have targets to lend, staff under pressure to turn the application around and a dishonest triangle then you are onto a hiding.
    Jail them, take every penny from thenm and throw away the key.

  4. And a Police Officer husband too!….Shame on her.

  5. Stephen Mokhof 8th June 2011 at 3:39 pm

    There is mortgage crisis, people working twice as hard with little money for deposit and then you get a dodgy copper and his wife, making a mockery of the system, take every penny and throw away the key

  6. Inflated House values eh? Telling me that the BoS did not have an in house valuation dept. doing spot checks.

    Poor old lenders with inadequete systems in place. Has the FSA fined the lenders?

    Question: If the woman known as Joanne Pier is still paying her mortgages then where is the loss to BoS?

    Must go out and remember to have my cake and eat it.

  7. Has anyone even considered that this surveyor was just being paid in kind by very grateful clients that were delighted with her positive outlook for strong property prices and that her copper husband put the cars in his name because insurance premiums might have been cheaper due to his respectable and responsible job? I never ever bought cake just to look at.
    I wonder if theres some sort of official database out there detailing the occupations of white collar criminals. I’d hazard a guess that there’s far more surveyors and solicitors in jail than mortgage brokers or IFA’s???

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