Man sentenced for £500,000 mortgage fraud

Man sentenced for £500,000 mortgage fraud


A Sunderland man who fraudulently obtained over £500,000 in mortgages has been given a suspended sentence and ordered to repay £5,500 – the only cash he had in his account at the time of his arrest.

Regional paper, the Sunderland Echo, reported that Brandon Lee Clark had lied about his income to lenders, saying he earned £45,000 a year, when most of the time he worked as a “cash in hand” personal trainer.

A Proceeds of Crime Act hearing at Durham Crown Court heard that although Clark made “very good money”, his only assets were a “sofa and a telly”.

Jane Waugh, defending Clark, said that in spite his fraud he had kept up to date with his mortgage payments “so no lender has lost out”.

She insisted that as a personal trainer “he has wealthy clients who pay in cash. He knew he would never get a mortgage without a credit history, so he invented one.”

The Recorder, Mr Graham, Hyland QC, stated that Clark’s benefit from criminal activity had reached £507,939.05. However, as the realisable assets were only £5,550 a confiscation order was made for that amount.

If the money is not paid within 28 days Clark will serve three months in prison.

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