Emelife, trading as Loans4Assets.com in Shepherd’s Bush, London inflated his declared £15,000 annual income to £188,000 on a mortgage application for himself- a 1200% rise. He also submitted false applications for his business and for a customer.
He commissioned an accountant to provide false accountants statements for himself and at least one customer in order to committ fraud.
The FSA concluded that he lacked honesty and integrity and should be prevented from working in regulated financial services.
Margaret Cole, director of enforcement and financial crime at the FSA, said the prohibition will make the mortgage market a safer place.
He added: “Emelife acted in a wholly unacceptable manner and deserves to be banned from the industry. We will continue to remove the bad apples from the market to ensure that lending is based on reliable personal and financial information.”
The FSA has now banned 78 mortgage brokers over the last three years.
