FSA bans broker for trying to swindle £250k

Since June 2007, Bournemouth-based King was found to have submitted 39 fraudulent applications - 30 in the names of applicants whose personal details were either wrong or who knew nothing about the claims. King admitted his plan was to use commission money to settle substantial outstanding debts. The FSA says it would have imposed a "substantial fine", however it has waived a financial penalty as King was declared bankrupt. "Peter King acted dishonestly and without integrity and posed a risk to consumers and to confidence in the financial system as a whole," FSA enforcement director M...