Landlord and property investment associates jailed over mortgage racket

A property investor who built up his portfolio by making fraudulent mortgage applications has been jailed.
His independent mortgage adviser and another man have also been given prison sentences for their roles in the multi-million pound mortgage racket.
Property investor Michael Browne built up a portfolio through filing a string of fraudulent mortgage applications, with the help of mortgage adviser Mark Campbell.
Browne, aged 49, used money obtained through the frauds to buy a six-bedroom villa in Spain, which was raided by West Midlands and Spanish police.  He is said to have built up huge wealth through the fraud, which he ran for many years.
He was arrested in November 2008 and a lengthy investigation followed. It was discovered that he had used Campbell to file mortgage applications that vastly overstated his income.
Campbell was convicted after Birmingham Crown Court heard that he falsified incomes and produced false letters of employment and references.
He obtained mortgages for Browne and his family and associates, with a ‘no questions asked’ attitude.
Campbell was sentenced to five and a half years in prison. Browne was given a three-year jail term. Police are now seeking to seize his assets under the Proceeds of Crime Act.
David Smith, Browne’s business partner in a property development company, was convicted earlier this year and sentenced to three and a half years in prison.
He had also used Campbell to obtain loans using false references and inflated incomes.
Detective Inspector Chris Barrow said: “Browne pleaded guilty at an early stage when he saw the overwhelming evidence against him.
“Campbell and Smith, however, denied the fraud to the end, even though there was overwhelming documentary evidence that showed they lied to banks and lending institutions time and time again.
“Campbell abused his position and used his knowledge and skills to obtain a mortgage for anyone who wanted one, no matter whether they were employed or not. “He even acquired property for family members using false applications to ensure they benefited too.
“These men profited from fraud when people around them are working hard to get their foot on the property ladder.
“We will now endeavour to ensure any money gathered in the course of their crimes is recovered so that their efforts are in vain.”
A fourth man, Andrew Harris, was used by Browne to produce false pay slips. He pleaded guilty last year but has yet to be sentenced.