The FSA has banned a Belfast-based mortgage broker, trading as Fast Track Mortgage and Finance Consultants, for his involvement in fraudulent mortgage applications.
Gerard McStravick was found to have submitted a number of applications containing false income information, including false documents, faked pay slips and faked P60 forms.
McStravick was knowingly involved in the submission of at least 13 false mortgage applications.
The FSA found that three applications featured the same address, though they referred to three different employers, but it was a close relative of McStravick that actually occupied the address.
He also made a number of false statements in a compelled interview and denied he had any knowledge of the fraud.
McStravick attempted to blame a former employee for the fraudulent applications, but the FSA’s investigation found fraud had occurred before and after the employee had worked for him.
Jonathan Phelan, head of retail enforcement at the FSA, comments: "Mr McStravick’s business was used to commit mortgage fraud and his actions posed a risk to lenders.
“Banning him 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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