FSA bans seventh broker in two weeks
The FSA has banned yet another mortgage broker for involvement in fraudulent activities.
The ban is the latest in a string of enforcement actions taken against mortgage brokers in recent weeks, and is the seventh ban since the beginning of July.
Plaistow-based John Akinduro has been banned from conducting regulated business for submitting false mortgage applications to lenders.
He is known to have submitted applications in the names of two individuals without their consent and certified false documents.
Akinduro also failed to notify the regulator that he was subject to bankruptcy proceedings and had two bankruptcy orders made against him.
He also failed to tell the FSA about five County Court Judgements that were registered against him.
Jonathan Phelan, head of retail enforcement at the FSA, comments: “Mr Akinduro’s business was used to commit mortgage fraud and his actions posed a risk to lenders.
“We have banned a number of mortgage brokers this year as part of our intensified crack down on mortgage fraud which involves us working alongside other authorities such as the police, and acting on information received from lenders and whistleblowers.”
If you would like to comment on this story, contact:
John Bakie
Tel: 020 7484 9805
e-mail: [email protected]
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