Alleged mortgage fraudster in court
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An alleged mortgage fraudster, Dixit Shah, 49, has appeared in Southwark Crown Court today charged with conning lenders out of more than £5.5m, it has been reported.
It has been alleged that he lied about applicants’ incomes and used individuals’ names without their permission to get mortgages on a series of properties which he then rented or sold on for profit.
It is alleged that Shah conspired with Gaurav Mathur, who is wanted and remains on the run, and they were both simply in it for the money, the jury was told.
Toby Fitzgerald, who was acting for the prosecution, said the pair did not care whether they gained the mortgages honestly or dishonestly.
He claimed the duo would lie about an applicant’s income to obtain larger mortgages than they could afford.
Once they bought a property, they would profit either from the increase in its value over time or from the significant rental income that could be gained, it was claimed.
Shah, of High Mead, Harrow, denies conspiracy to defraud between January 1, 2006 and April 10, 2008 and is on remand in custody.
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