FSA fines mortgage broker £250,000 for 'repeated' fraud

Selvavinayakam Vigneswaran, the sole director of Future Finance Limited, a mortgage brokerage based in Kingsbury, North West London, was banned and fined £250,000. Authorised in October 2004, Vigneswaran was the only approved person at the firm and was responsible for the day-to-day running of the business and ensuring it complied with FSA standards. In October 2007, the FSA received a tip-off from a lender that Vigneswaran had been removed from its panel of preferred intermediaries, as it strongly suspected him of submitting applications to another lender that contained erroneous inf...