A man who posed as a mortgage adviser and defrauded four people of more than £200,000 has been sentenced at Chester Crown Court.
Adam Francis, 48, of Barnton, near Northwich, Cheshire, received a 25-month prison sentence, suspended for two years, along with up to 20 days of rehabilitation. He had previously pleaded guilty to four counts of fraud by false representation.
Fraudulent scheme
The fraud occurred between February 2017 and August 2018, when victims approached Francis after seeing advertisements for his services as the ‘Mortgage Man’. Francis instructed the victims to hand over mortgage deposits, various charges, and solicitors’ fees to secure mortgage deals.
To lend legitimacy to the scheme, Francis contacted estate agents and mortgage advisers, and instructed solicitors, including paying initial fees to obtain documentation. He worked alongside an accountant who has since died. The victims only discovered the fraud when they contacted solicitors to check on their mortgage applications.
The four victims reported combined losses of £203,436. None of the money has been recovered.
Industry implications
The case highlights ongoing concerns about mortgage fraud within the property sector. Detective Constable Catrin Phoenix of Cheshire Police confirmed that Francis had no financial qualifications and used the victims’ cash for personal gain.
The sentencing comes at a time when specialist lending activity continues across the UK market, with legitimate mortgage advisers playing a crucial role in property transactions. The case also underscores the importance of regulatory oversight, as industry reforms continue to reshape the property sector.
Detective Constable Phoenix stated: “While we have been unable to recover any of the victims’ cash, I do hope that the fact Francis has now been held accountable for his actions will provide them with some closure.”
