Three brokers banned as FSA fraud crackdown continues

The East London-based brokers submitted false mortgage applications backed by false and misleading documents. Muhammad Adrian Ashraf and Muhammad Asim Iqbal, both director of OCS Property and Financial Services of Barking, and Mohammed Atif Mayo, director of Mac & Mayo Property Services in Forest Gate, have been banned from conducting regulated business, and the trading permission of their firms has been cancelled. The FSA’s investigation found Ashraf had submitted a mortgage application in his own name, along with false income details and a driving licence, which the DVLA confirmed they ...