Broker banned and fined £100,000 for cover-up

North Wales-based broker Stephen Jones, of Jones & Poole Independent Mortgage Specialists, failed to control his business effectively and did not treat his customers fairly when recommending mortgages. Jones’s Chester-based junior partner, Simon Poole, also received a fine of £7,000 for exposing clients to the risk of purchasing unsuitable mortgages. Prior to an investigation by the FSA, Jones revisited customers to ask them to sign and backdate retrospective fact finds to cover up his failings. Jones was also found to have committed mortgage fraud by providing false income information f...