Posts Tagged ‘Fraudsters’

A Conveyancing Solicitor Briefly Describes The Remortgage Process

Saturday, March 27th, 2010

Firstly we will discuss about the procedure of Remortgage. When a client’s mortgage deal is coming to an end, they may want to shop around for a new product – this is known as a remortgage. Staying with the current lender after the end of the agreed term of the client’s mortgage will be a matter for negotiations with the mortgage lender. If the existing mortgage lender is willing to offer a rate that is relatively eye-catching, the client may not want to bother remortgaging. If the client, however, has a lot of equity in his property then he may well be able to remortgage onto a more attractive interest rate and even release some of the equity in the property. Now you may be wondering what is ‘equity’, equity is the difference between the market value of the property and the value of the mortgage against the property. For example if your property is worth £250,000 and you have a mortgage of £100,000 against; the property the equity in the property is £150,000. However when you go to remortgage your property you will not be able to realise all of the equity in the property.

Conveyancing solicitors are now very vary of mortgage fraud which is particularly prevalent in the London property market. These fraudsters are laundering money, stealing peoples’ identity and using conveyancing solicitors as a tool in their criminal activities. Conveyancing solicitors are now taking extra precaution to make sure they know their clients and are confident that the client that they are dealing with is genuine. Hence when you go for a remortgage do not be upset if your conveyancing solicitor asks you for proof of name, address and evidence of source of funds. They are not suspecting you but these are measure deployed generally to protect you and the rest of the public.

Once the conveyancing solicitor is happy with the ID documents provided he will proceed to ensure that all the new lender’s conditions are met and the new lender will be able to obtain a secure main charge against the property. Sometimes a property may have two or three charges on it and this means the conveyancing solicitor conducting the remortgage would need to redeem each and every charge on the property or agree with all the lenders concerned the order of ranking of the charges. This is when a remortgage can become complex and more costly.

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Compensation Fraudsters Get What They Had Coming

Tuesday, October 27th, 2009

A British fraudster who took his council to court has seen the tables turned. David Cairns said it was a slip and trip due to uneven paving which caused his ankle injury in the year 2000, but Cairns had actually suffered the injury during a game of football. According to The Telegraph.co.uk: “David Cairns received a £9,200 compensation payout from Wigan Council in Greater Manchester for his false accident claim.” However it is now, years later that his lies have been confirmed and he will almost certainly face jail.

Cairns, 44, appeared at Liverpool Crown Court and admitted that he was guilty for perjury and for receiving funds not truly owed to him via bank transfer. David Cairns filed a false compensation claim, saying he had broken his ankle by tripping on uneven pavement in Tram Street, Wigan, when really he had sustained the injury while playing football at Wigan’s JJB Soccerdome. David Cairns original compensation claim was supported by his nephew, Anthony Purves, 31, who confirmed Cairns story in court and secured him a hefty pay out. Both men admitted perjury and were remanded on bail. The two men will be sentenced in May.

A spokesman for Wigan council said in the Telegraph article: “This case goes to show that if you are a fraudster you’re always going to be looking over your shoulder – even if you strike lucky first time around. Compensation claims cost real money. They hit council services and they hit the people that pay for those services through their council tax. This was an elaborate fraud and hopefully the pair of them will get the sentence they deserve come May.”

It isn’t just here in the UK that compensation claim fraudsters are being challenged by the authorities. A man in Brockton, US, pleaded guilty to Brockton Superior Court recently for collecting more than $30,000 in worker compensation benefits while continuing to work. William Hoeg, 53, faced charges for worker compensation fraud and larceny.

It was while Hoeg worked at Capeway Aluminum and Vinyl Incorporated that he claimed to have suffered a serious back injury. As a result of the bogus injury Hoeg made a compensation claim and began taking worker compensation benefits on June 15th 2004. The investigation revealed that William Hoeg had been a licensed home improvement contractor and had worked on many projects before during and after his injury.

A similar conman, whose name is Raymond Duggan, is discussed on the Regional Asset Recovery Team (RART) website. Over a period of 4.5 years Duggan committed benefit and housing fraud the sum of which totalled £36,833. Raymond Dugan has been sentenced to 12 months imprisonment for his crimes and his house was put on the market in order to meet compensation claims made against him by Telford council.

The RART website says that this and other examples “show that we will no longer allow criminals to get away with just a short prison term and slapped wrist.” The RART is a governmental agency formed from officers and staff seconded from various police forces. “We are actively involved in taking the profit out of committing crime.” The website says, “in an effort to eradicate any incentive to become involved in activities that have detrimental effects on the general public.”

Sarah Othman is an author of several articles pertaining to No Win No Fee, Compensation Claims, Personal Injury Claims and other legal articles.

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