The FSA has banned three South London mortgage brokers for submitting false applications, backed by falsified documents.
The bans are part of the FSA’s drive against financial crime in the mortgage industry, and a Belfast-based broker was banned for mortgage fraud earlier today.
Greenwich-based Rafiu Adisa Akanbi, trading as Rafin Adisa Akanbi, submitted false identification documents, including passports, driving licences and utility bills and failed to co-operate with the regulator’s investigation.
Erinma Didi Jordan, from Peckham-based Trekfree Associates Ltd, also used false documents.
In once case, Jordan submitted an application including false passport copies, faked accountant’s certificates and a fake copy of a council tax bill. When the FSA approached this customer, he told the regulator that he had never had heard of, or had any dealings with, Jordan or Trekfree Associates. Jordan also failed to co-operate with the investigation.
Lastly, Byron Brown, principal and director of Millbank Consultancy in Balham and Millbank Mortgages in Lewisham, entered false employment and salary information on an application form without his customer’s knowledge.
The application resulted in the customer unknowingly making a false declaration to a mortgage lender and resulted in him becoming subject to a disciplinary investigation by his employer.
Jonathan Phelan, head of retail enforcement at the FSA, says: “The actions of these brokers posed a risk to lenders, and banning them supports the FSA’s remit to tackle financial crime as well as to protect consumers and promote confidence in the financial system.”
The FSA will submit its evidence from all of today’s fraud cases to the relevant police authorities to consider a criminal prosecution.
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