Mortgage Broker And Dodgy Businessman Sentenced

Mortgage Broker John Boyce

A mortgage broker and a businessman, who became involved in supplying bogus references to support weak loan applications, have both escaped prison with suspended sentences.

They are: John Boyce, 64, (pictured) of Wickham Avenue, Sutton and Rafael Choudhury, 37, of Holcombe Road, Tottenham, who triggered the police investigation when he ripped-off a customer of £1,750.

Officers investigating that complaint stumbled upon the pairs' sideline of boosting mortgage applications with bogus documents such as payslips, company accounts and other proof of earnings.

Prosecutor Mr. Andrew Mazibrada told Croydon Crown Court: “This was a protracted and complex fraud investigation that started in 2009 and the conduct of these two was the catalyst, but they play a small part in a wider fraud. Their part in it was to open the door.

“Boyce was a Financial Services Authority-approved mortgage broker and where there were difficult applications that could not be fixed legitimately he turned to Choudhury for forged documents that were certified and submitted to financial institutions.

“These mortgages would not have been granted otherwise and there was a risk of loss if they were defaulted on.”
Boyce received £300 for each successful mortgage application.

Police only became involved when a customer of Choudhury's debt consolidation business walked into Tooting Police Station and complained he had lost £1,750 to the defendant who took the fee, but did nothing to reduce to complainant's £30,000 arrears.

“Mr. Boyce was running a legitimate business with an illicit part to it,” said Mr. Mazibrada, adding the defendant had been cautioned by the police in 2006 for forging an insurance document.

Chowdhury, the court was told, has since filed for bankruptcy.

Boyce was sentenced to twelve months imprisonment, suspended for two years, and Chowdhury also received a suspended sentence.