West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.
Earlier this month, the Financial Conduct Authority fined Gurpreet Singh Chadda £945,277 and banned him from working in the financial services industry. Among the reasons for the ban was Chadda’s role in helping property purchasers obtain mortgages in the knowledge that they were giving misleading information to mortgage lenders. He was also found to have misled the sellers of the properties by telling them he would be buying their homes when in fact the purchasers were other people, created misleading documents and arranged for people to impersonate his customers in order to mislead ...
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