Operation Aquamarine | Successful Negotiation at Southwark Crown Court
Mortgage Fraud | Kangs Fraud Team
Our client was one of 15 defendants charged with conspiracy to commit mortgage fraud between 2006 and 2007 when eleven loans were obtained from “Barclays Private Clients International Ltd”, based in the Isle of Man, totalling approximately £50 million.
The funds were used for the purchase or re-mortgage of properties within the UK.
Among those charged were a former Corporate Manager from Barclays Private Wealth, a Chartered Surveyor from Savills, a Commercial Mortgage Broker and several senior Solicitors.
The loans obtained were based upon hugely inflated property valuations and the provision to Barclays of false information about the financial situation of the mortgage applicants.
Our client was the director of a company used to re-mortgage a hotel in Brighton for £1.75 million. The Prosecution alleged that this loan was obtained using a fraudulent valuation and through the provision of false information to Barclays.
Following extensive negotiations with the Prosecution, our client accepted a lesser charge of “obtaining a money transfer by deception”. The more serious charge of “conspiracy to defraud” was dropped.
In addition, it was negotiated on our client’s behalf that the Prosecution would not pursue the same allegation against his wife and they would not initiate Confiscation Proceedings.
Our client will be sentenced at the conclusion of his co-defendants’ trial.
Focused negotiations | Kangs Solicitors
At Kangs Solicitors we are able to provide clear and pragmatic advice, with an emphasis on achieving the best possible outcome for our clients.
In this particular investigation, which began 9 years ago in 2007, our tactical approach to negotiations with the Prosecution has enabled us to secure a very positive outcome for our client.
How can we help? | Kangs Specialist Fraud Team
We have a wealth of experience in representing clients who find themselves at the centre of a police investigation of this nature.
It is imperative to seek advice at an early stage of a criminal investigation.
Decisions made at the investigation stage of a case often have a huge impact on the shape of a case should it proceed to Court.
Who do I need to contact for assistance? | Kangs Fraud Team
Please do not hesitate to contact one of the following for an initial consultation: