Bridging lender set to become TV star

Bridging lender set to become TV star




.

Masthaven Bridging Finance will be making its TV debut after producers approached the lender concerning the

well-publicised story

of an attempted £1.5 million “Fake Sheikh” fraud, which was spotted by robust underwriting and saw four men jailed for a combined 12 years.

The BBC will be featuring the “Fake Sheikh” case in tomorrow’s BBC1 “

You’ve Been Scammed

” programme, presented by Matt Allwright from Rogue Traders.

 

Half of the programme, the third to be run in its second series, will feature the attempted Masthaven fraud case, which saw Ahmed Ali and Shakil Ahmed don traditional Arab robes as part of an elaborate plan to trick Masthaven.

 

The BBC documentary will depict the whole story, including CCTV pictures of the sting operation and the arrest at a West End hotel. 

 

Speaking about the upcoming TV debut, Andrew Bloom, Managing Director of Masthaven Bridging Finance, said: “It is vital that media sources, such as the BBC, cover these stories to highlight to the general public the potential problem of mortgage fraud and the real world costs that these fraudsters can inflict. 

It will also emphasise the potential threat - not just for the lender but also to all property owners - and underline that all should be wary of protecting their identities.

 

Andrew, who was interviewed and features in the programme, added:

“This case showcases a bridging lender at the forefront of the battle against fraud.”

 

The Fake Sheikhs

 

The case involved a gang of fraudsters who tried to con Masthaven out of £1.5 million using two ‘fake sheikhs’. Masthaven was told that wealthy Arab brothers, Said and Malthoum Mebjar, would back the loans with an exclusive flat in London’s West End.

 

The ‘sheikhs’ did not exist and the property had been ‘hijacked’ using land registry documents.

 

The fraud was spotted, however, by Masthaven’s underwriters when they liaised with utility companies for a proof of address in the deal’s documentation and became suspicious of the case. Masthaven subsequently informed the authorities, the City of London Police, who started their investigations.

 

B&C published the full details

of the attempted fraud in February this year.

 

The programme is being aired at 11am on BBC 1 tomorrow, Wednesday 12th December.

 

 

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