An IFA has been jailed for five and a half years for helping clients secure mortgages fraudulently.
Adviser Mark Campbell helped property developer Michael Browne and his business partner David Vincent Smith obtain fraudulent mortgage applications by faking and inflating the men's incomes.
The trio were sentenced at Birmingham Crown Court yesterday. Browne received three years in prison but the term will be reduced after time already spent in custody and his guilty plea.
The court heard how Campbell obtained mortgages for Browne and his family and associates with a ‘no questions asked' attitude, allowing the tycoon to build up a substantial portfolio of property across the city, including ten properties in Coventry and a villa in Spain.
Campbell also used the services of another man, Andrew Harris from Keresley in Coventry, to produce false payslips. Harris pleaded guilty in 2009 and will be sentenced at a later date.
Detective Inspector Chris Berrow, of the Coventry Regional Asset Recovery Team, says: "Browne pleaded guilty at an early stage when he saw the overwhelming evidence against him.
"Campbell and Smith, however, denied the fraud to the end even though there was overwhelming documentary evidence that showed they lied to banks and lending institutes time and time again.
"Campbell abused his position and used his knowledge and skills to obtain a mortgage for anyone who wanted one, no matter whether they were employed or not.
"He even acquired property for family members using false applications to ensure they benefitted too," Berrow says.
£300bn of liabilities
View from the front row
Transfer from occupational scheme
Appointed by FCA and PSR boards