Bridging and Commercial reports that a former mortgage broker has been banned from taking part in any regulated activity and jailed for four-and-a-half years after he was found guilty of fraud by the Southwark Crown Court.
Mr Sanham pleaded guilty in March 2012 after he was charged with playing a major role in facilitating a number of fraudulent mortgage applications by Mr Warren Dunton, who was also charged after an investigation was carried out by the Serious Organised Crime Agency (“SOCA”).
Mr Dunton acted as an intermediary for high-profile sports figures. He would obtain monies from them and instructions to place bets. He would then either keep part of the monies for himself or give odds that were less favourable than could be obtained elsewhere so he could retain extra funds. He used these funds to fraudulently finance a series of mortgages on properties in 1999, 2002 and 2007; giving false income and employment details on the mortgage applications. Mr Dunton was sentenced to 18 months in prison for fraudulently obtaining these mortgages.
Mr Sanham acted as mortgage broker for Mr Dunton. As well as arranging Mr Dunton’s mortgages, he was charged with facilitating 43 fraudulent mortgages which were worth in total more than £8 million. He was therefore jailed for four-and-a-half years and struck off the Financial Services Authority register after being convicted of one count of conspiracy to defraud and one count of making a false representation to make a gain for himself, cause loss to another or to expose another to risk.
The network also involved a conveyancing solicitor – Mr Reader – who was sentenced for six years in prison for his role in the fraud and has been struck off the Solicitors’ Roll after an SRA investigation into his conduct. He is now prohibited from being employed by a solicitors’ firm.
SOCA stated afterwards that it would “continue its investigations until the illicit profits gained from this criminal activity have been recovered” and the FSA stated that “this is a good example of agencies working together to get justice done, and of the benefits that come from sharing intelligence”.
Mr Sanham’s criminal defence lawyers declined to comment.
Conspiracy to defraud is a common-law offence. It occurs when there is an:
- Agreement by two or more [person] by dishonesty to depreive a person of something which is his or to which he is or would be or might be entitled [or] an agreement by two or more by dishonesty to injure some proprietary right”
Fraud by making a false representation occurs when a person:
- Dishonestly makes a false representation, and
- Intends, by making the representation to cause a gain for himself or another; or to cause loss to another or to expose another to the risk of loss
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