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20 Duped by home raffle scoundrel

A cheeky scoundrel ran off with 10,000 after raffling his repossessed house for 500 a ticket.

David Roberts, from Liskeard in Cornwall, duped 20 people into buyng the tickets. These people turned up on the day of the draw to find the house had been repossessed by the bank.

Roberts’ excuse for raffling the house was that the market for luxury homes was taking a downturn. In fact it had been taken from him for non-payment of his mortgage.

Doris Walker, a pensioner from Plymouth who bought a ticket, says: “I turned up at the house expecting lots of activity but David wasn’t there and I was told the house had been repossessed. My dreams of settling down for my retirement have been dashed.”

Roberts, an aircraft engineer, has promised to reimburse ticket holders.


Finance Academy to open next week

The London Financial Academy, London Metropolitan University’s centre for Continuing Professional Development, will open on October 12 in the City, and in March 2006 at Canary Wharf. The aim of the academy is to bring varied and flexible courses and events to the heart of the financial services industry. International speakers, discussion groups and workshops […]

Three-quarters want FSA to look at retail sector

Three-quarters of Mortgage Strategy Online readers think the Financial Services Authority should carry out a detailed audit of the sales and advice process in the retail mortgage sector. The FSA was criticised last week for failing to carry out such a review nearly a year after becoming the industry’s regulator. Although the regulator has cast […]

Met to brief industry on fraud

The Metropolitan Police will warn the finance industry this Thursday that it stands to lose 1bn per year through fraud. At a special briefing at New Scotland Yard, Tarique Ghaffur, assistant commissioner for specialist crime directorate at the Metropolitan Police, will announce a initiative intended to seriously disrupt criminal activity. This will operate in conjunction […]

Landlord associations join forces

The National Landlords Association and the Dorset Residential Landlords Association have joined together in another step towards providing a coherent and more unified voice for the private-rented sector. The DRLA Committee has recommended to its members that their association be remodelled as NLA (Dorset) and this has now been passed at a general meeting. David […]

Trusts: Easier than you think?

Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]


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