Andrew Ratnage, 49 and Raymond Pask, 53, appeared in a London Court yesterday, after it was alleged the duo used their senior positions at the bank to tamper with the value of assets.
According to a report, the executive duo deliberately inflated the values of properties they owned - in an effort to obtain "excessively" large mortgages for five properties across London.
In total, Ratnage and Pask managed to manipulate assets and obtain mortgages totalling well over £4 million, with the court case still yet to reveal the extent of the fraud.
The pair are accused of funnelling money into two special purpose companies, Oasis Property Investments and Oasis Property Trading, between the years of 2005 and 2010.
The properties were located in Barretts Grove and Lidfield Road, in Stoke Newington, North London, Rayne Road, in Braintree, Essex, Roman Road, Mile End, Rast London, and Middle Wall, in Whitstable, Kent.
As aforementioned, the court case has still yet to come to a climax, with more details expected to arise over the coming days.
Picture: Ell Brown
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