IFA sentenced to five-and-a-half years in jail for mortgage fraud

A financial adviser has been sentenced to five and a half years in jail for his part in a multi-million pound mortgage fraud.

IFA Mark Campbell was handed the jail sentence after Birmingham Crown Court heard how he helped Michael Browne, from Coventry, acquire loans overstating his income in mortgage applications.

Browne built a portfolio of property by submitting false mortgage applications, while Campbell falsified incomes and produced false letters of employment and references.

The court heard how Campbell would obtain mortgages for Browne and his family and associates with a ‘no questions asked attitude’, without signing forms or producing proof of income a mortgage was obtained.

Detective inspector Chris Berrow, of the Regional Asset Recovery Team, said: ‘Campbell abused his position and used his knowledge and skills to obtain a mortgage for anyone who wanted one, no matter whether they were employed or not. He even acquired property for family members using false applications to ensure they benefitted too.

He added: 'Campbell also used the services of another man, Andrew Harris, to produce false payslips. Harris pleaded guilty in 2009 and will be sentenced at a later date.'

Browne was arrested in November 2008 and sentenced to three years, reduced due to time spent on remand and the fact that he entered a guilty plea.

Money obtained from the fraud was used to purchase a six-bed villa in Spain, which was raided by officers from the West Midlands Regional Asset Recovery team and the Spanish police in November 2008.

David Vincent Smith, Browne’s business partner in property development company MIDA Developments, also used Campbell to obtain loans using false references and inflated incomes.

Vincent Smith was given a three and a half year sentence for the offences after a five week trial earlier this year.

Police will now begin legal proceedings under the Proceeds of Crime Act to ensure the three mens’ assets are seized.