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Former mortgage broker convicted of fraud

A man masquerading as a mortgage broker has been convicted of fraud after pocketing a £5,000 arrangement fee from a client.

The Birmingham Mail reports that Mohammed Aslam pleaded not guilty to fraud but was convicted at Birmingham Crown Court.

He was ordered to compensate his victim for the £5,000 and to pay £1,200 in costs, while he was also sentenced to 12 months in prison suspended for two years and 250 hours of unpaid work.

Aslam, who had worked as a mortgage broker in the past, convinced his victim that he was a broker while he was unemployed by using a fake business card from Brunel Mortgages and downloaded forms from the firm’s website.

He purported to arrange a mortgage for Zahid Malik for a property in Pakistan, and asked for the payee name on the cheque for a £5,000 arrangement fee to be left blank, before paying the cheque into his own account.

Aslam was told by the judge: “I consider you were very dishonest. At your trial you advanced a completely dishonest account that this £5,000 was an advance for property in Pakistan. That was a lie, and the jury knew it was a lie.”

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  • Phil Neville 14th September 2011 at 11:15 am

    Maybe the responders above should be part of a new headline “Mortgage Brokers can’t read scandal”.
    The article states Aslam was “masquerading” as a mortgage broker and “worked as amortgage broker in the past” and “convinced his victim he was a mortgage broker” so in fact it never states he was a “Mortgage Broker”.
    What Aslam did is a scandal and he was rightly punished but it is also a scandal that so called legitimate brokers cannot read the article properly. So what chance have they got of giving accurate advice or explaining correctly to a customer what they are being sold !!

  • salil chaudhari 14th September 2011 at 9:16 am

    The only authorisation he had was in his head. A bit of a walter mitty character, nothing to do with mortgage brokering.

  • Dan McGeehan 13th September 2011 at 9:51 am

    I agree with other posters this was simply a con. This person was not an authorised mortgage broker.

  • Shaks 12th September 2011 at 3:34 pm

    It’s not very helpful and accurate to call this guy a broker. He’s just a plain old conman obtaining payment by deception, no different from a conman passing off a stolen car as a staright car. This is just useless sensationalism because there must have been no convictions for real mortgage fraud recently. I used to deliver newspapers aged 13 does that mean If I was convicted of dishonesty that the headlines would read “News paper boy Convicted of Fraud”??

    Come on, print something relevant. This overseas property scam has nothing to do with mortgage advisers. Theyr’e just lowlife scammers.

  • john smith 12th September 2011 at 3:30 pm

    why is this article calling him a mortgage broker and unemployed in the same article. he was a thief, nothing to do with being a mortgage adviser