Mortgage broker arrested over irregularites in mortgage applications

Brendan Burgess

Brendan Burgess

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From today's[broken link removed]

Gardaí were last night continuing to question a 36-year-old financial adviser arrested in Cork over alleged irregularities in mortgage applications which he made on behalf of up to 20 clients over a three-year period.


The man was arrested at his home in Cork city under section 4 of the Criminal Justice Act and brought to Mayfield Garda station for questioning about alleged offences under the Criminal Justice Fraud and Theft Act.


Yesterday’s arrest is the first under the Garda Bureau of Fraud Investigation inquiry, ongoing for about two years, into the adviser’s processing of mortgage applications on behalf of clients, and whether he may have falsified papers regarding their earnings to allow them to secure larger mortgages.


It is believed the matter came to light when staff at one of three financial institutions affected checked documents after a client had difficulties meeting repayments, and the matter was brought to the attention of the Garda. The inquiry is focusing on the 2005-2008 period.
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Should the mortgage holders be arrested too? Did they knowingly allow falsified statements of means be submitted on their behalf?
 
dereko1969 said:
Should the mortgage holders be arrested too? Did they knowingly allow falsified statements of means be submitted on their behalf?
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No Derek.

There was only irresponsible lending by the banks. All the mortgage holders who are in difficulties are in such difficulties due to factors beyond their control.
 
Seems to be connected to this article in today's Independent.

A FORMER [broken link removed] councillor was arrested yesterday in connection with a probe into investments.
The former councillor -- who stepped down from his local authority role several years ago -- was questioned by gardai who called to his business address yesterday. They also conducted a number of related searches.
The man was expected to be released without charge last night. [broken link removed] understands that a file on the matter will be prepared for the DPP to determine what action, if any, will be taken.
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[broken link removed]s another link from TV3

A solicitor has been arrested as part of an investigation by members of the fraud squad in Cork.

The man, who's in his thirties and is being held at Mayfield Garda Station, was picked up earlier this morning when detectives raided an office and seized documents as well as computers.

The investigation relates to financial transactions when the solicitor worked as a mortgage broker.
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