A mortgage broker found guilty of submitting false mortgage applications has been told he can no longer work in financial services.
The FSA has banned John Adebayo Adepoju, who had been trading as Landmark Finance, “because of his direct involvement in the submission of at least one false mortgage application”. The regulator was aware of Adepoju’s discrepancies in April, and stopped him from trading, following concerns from three lenders that had received applications from him. However, after Adepoju failed to appeal the decision by last week’s deadline, the regulator made the ban indefinite. Jonathan Phelan, head of retail enforcement at the FSA, says: “Mortgage brokers absolutely must not submit or assist in the...
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