View more on these topics

Scamsters jailed in attempted £1.5m Masthaven fraud

A gang of fraudsters who posed as fake sheikhs in a bid to con Masthaven Bridging Finance out of £1.5m have been jailed for a total of 12 and a half years.

The quartet used fake passports, claiming they were wealthy Arab brothers.

They claimed they would pay back the loan using an exclusive flat in Bayswater, west London, and provided forged documents for it.

But in reality the property had been hijacked using Land Registry documents.

The fraudsters were arrested in April 2010 after Masthaven became suspicious and stopped the deal.

Police were called in after Andrew Bloom, managing director, of Masthaven, became suspicious of the forged documentation.

Jonathan Flynn, 38, was convicted of conspiracy to commit fraud after a trial at the Old Bailey and given a four-and-a-half year prison term.

Co-conspirators Shane Martin, 51, and Ahmed Ali, 47, who pleaded guilty to their roles in the scam, each received two and a half year sentences.

 A fourth man, Shakil Ahmed, 36, who donned the Arab gear along with Ali as part of the con, was given a three-year jail term in his absence after he went on the run earlier this year.

A warrant has been issued for his arrest.

Recommended

The Mortgage Mole

Quackers: Mole was interested to hear that Angela Knight, chief executive of the British Bankers Association, is leaving her role in the summer.

Angela Knight decides to call it a day at BBA

After five years at the British Bankers’ Association, chief executive Angela Knight has announced her intention to step down. She will leave in the summer, by which time it is hoped her successor will have been found. Knight says: “I have been at the BBA at a time of extraordinary difficulty and during a crisis […]

Week in numbers

8.1% – The annual growth rate of the Chinese economy in Q1 2012, lower than expectations and down on 8.9% in Q1 2011. 0.3% – The percentage consumer prices edged up in March, mainly due to the rising cost of petrol. £13.8m – The amount Goldman Sachs was fined by the Securities and Exchange Commission […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Comments
  • Post a comment
  • Afro haired broker 13th April 2012 at 10:40 am

    Jonathan Flynn was a mortgage broker too – shame on these individuals.

    Well done to Andrew – a Bloomin’ good job.