Category: 
10/03/2009
BEXHILL-BASED mortgage broker Eastbourne Financial Services Ltd is at the centre of a suspected £40m fraud investigation. Officers from the City of London Police arrested eight people in connection with the probe into fraud affecting mortgages taken out on more than 500 properties in the South of England between 2005-2007.
The seven men and one woman arrested are between 29 and 59-years-old and were arrested on suspicion of conspiracy to defraud and money laundering.
The Company is currently in liquidation and no longer authorised by the FSA. The City of London Police action followed a referral from the FSA, which has been closely involved in the investigation. The compnay specialised in subprime, buy to let and non conforming mortgages.
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There are 15 comments
Hmmm, there seems to be a lot of fraud these day eversince Bernard Madoff was arrested.
erm… who is Bernard Madoff?
Bernard Madoff is guilty of fraud. He duped Kevin Bacon, Steven Spielberg, Nomura and Santander to name a few…
Sounds like you guys are having the same problems as we have been experiencing. Hope things get better for all of us.
Wow, that’s really huge! Hope he gets sent to prison!
unbelievable, that fraud was huge!
I hope that money isn’t to be paid by UK taxpayers
Landlords, believe it or not are also facing repossession. Forty Four per cent of landlords have experienced some rental arrears within the last six months, which goes some way to explaining the significant rise in repossessions and why a growing number of landlords are having problems meeting their mortgage repayments. This recession is going to be a rough ride thats for sure.
woooow, Great, I hope he sent to prison
Did you hear the tragic news today?
David Kellermann, the acting chief financial officer of mortgage giant Freddie Mac, was found dead at his home this morning in what police said was an apparent suicide.
The pressures of cheating, lying and stealing from people is taking it’s toll… and lives!
It’s revolting what they were trying to do.
Haha. If ever there were a time where it’s not safe to be a fraud, it’s now. People are much more sensitive in light of everything that’s happened recently.
40m fraud is a big money and there is no wonder that the police suspects and investigates.
no wonder there is a worldwide credit crunch
Forty Four per cent of landlords have experienced some rental arrears within the last six months, which goes some way to explaining the significant rise in repossessions and why a growing number of landlords are having
It seems a trend these days. You can not even trust the big names. It is strange but one can not even rule it out when we know that Eastbourne Financial Services Ltd is undergoing fraud investigations.