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Wayne Stubbs |
A tax-dodging property
wheeler-dealer and his jobless mother, who orchestrated a £650,000
mortgage fraud, which funded their property empire were both jailed yesterday.
Wayne Stubbs, 44,
received six years and his mother Wendy Stubbs, 62, also of Briarwood
House, Orpington Road, Chislehurst, Kent received three years.
Wayne's ex-girlfriend
Rachel Gledhill, 39, of Armitage Road, Milnsbridge who worked for
Harvey Nichols, but allegedly posed an IT consultant and fine arts
dealer to get loans was found not guilty of participating in the
plot.
Prosecutor Mr. Nick
Mather told the Old Bailey at their trial that Gledhill purchased 52
Hollyfield Avenue, Huddersfield in 2004 with the help of a £225,000
mortgage granted on the basis she was a £67,000 a year IT
consultant.
“That is simply
untrue, she is not an IT consultant and she was not earning that
money. She was working as a sale assistant in Harvey Nichols.
“This is a lie on
the mortgage application and this is part of a pattern of lies that
go throughout this case.”
The jury were told
Wayne was the mastermind behind the frauds. “This is not something
Rachel Gledhill has decided to do off her own bat.”
The second property
Gledhill purchased, 4 The Courtyard, Holwood, Keston, Kent, needed a
£424,950 mortgage and she claimed to run her own successful fine
arts business to obtain the loan in 2005.
“She say's she's a
professional and had been doing this since May 1996 and owned one
hundred per cent of the business.”
Gledhill claimed to
net over £172,000 a year from the non-existent business, added Mr.
Mather. “All of that was untrue because we known how much she was
earning.”
The last known income
for Gledhill was £12,000 in 2004 and from 2005 to 2011 she has no
employment or tax records whatsoever.
“You can be
confident these are lies in her documentation.”
4 The Courtyard was
rented for £2,000 per month without the permission of the lender and
sold in May, 2008 for £472,000, which the prosecution say is
criminal property.
The Stubbs' were
involved in further frauds on their own, added Mr. Maher. “It's
about mortgage fraud and money laundering.
“These three
defendants, individually and together, obtained a number of different
mortgages and they did this by lying about their employment and
income.
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Wendy Stubbs |
“They then bought
properties on the back of these lies and received steady income by
renting out these properties to tenants and that amounted to criminal
conduct that was never declared.
“Wayne is behind
each and every one of these transactions. His fingerprints,
euphemistically speaking, are all over this case.”
Wendy fronted the
purchase of one property by claiming to be a £120,000 financial
consultant.
“She has never,
prior or since, earned that money. She was unemployed and on
benefits.”
On another occasion
she claimed to be a £75,000 a year interior designer and Wayne
himself posed as a £110,000 a year unit trust dealer to obtain a big
mortgage.
Wayne has not
employment or tax history between 1995 and 2011. “He's a man who
has no income at all as far as Revenue and Customs are concerned.
“He's someone
seemingly under the radar with no income.”
The
Stubbs' were convicted of four counts of obtaining a money transfer
by deception for which they are jointly charged.
Ms
Stubbs was also found guilty of three counts of entering or becoming
concerned with a money laundering arrangement, and a count each of
obtaining a money transfer by deception, acquiring criminal property
and fraud by false representation.
Ms
Stubbs denied but was convicted of entering or becoming concerned
with a money laundering arrangement and two counts of acquiring
criminal property.