Editor's note: This brief was summarised by The Property AI Newsroom from a report by The Negotiator. Read the original article for full details.

Cheshire Man Sentenced for £200,000 Mortgage Fraud Involving Estate Agents

Adam Francis, a fake mortgage adviser from Barnton, near Northwich, Cheshire, has been sentenced for frauds totalling more than £200,000. Francis defrauded four people between February 2017 and August 2018, after they responded to his adverts offering mortgage services under the name ‘Mortgage Man’.

Francis, aged 48, was sentenced at Chester Crown Court to 25 months in prison, suspended for two years, and up to 20 days’ rehabilitation. He had previously pleaded guilty to four counts of fraud by false representation. The frauds were carried out with the help of an accountant, who has since died.

The victims, who were seeking help for new mortgages, were told by Francis that they needed to pay mortgage deposits, various charges, and solicitors’ fees to secure the deals. To make the transactions appear legitimate, Francis communicated with estate agents, mortgage advisers, and instructed solicitors, including paying initial fees to obtain documentation used in the con.

Despite these actions, all the money handed over by the victims was stolen by Francis and his associate, and none of it was recovered. The victims only discovered the fraud when they contacted the solicitors to check on the progress of their mortgages. In total, the four victims reported losses of just over £203,436.

Francis had no financial qualifications and used the victims’ money for his own personal gain. The case highlights the importance for estate agents and property professionals to verify the credentials of individuals offering financial services, especially when handling client funds or documentation.