The prosecution case is that Raymond Andrews, 35, and his partner Nina McNeill, 36, allegedly lied about their employment to secure loans on a portfolio of properties across London, Hertfordshire and Essex.
The couple also used bogus claims to enter into hire purchase agreements for luxury cars including two BMW M3 convertibles and a Jeep Grand Cherokee, the jury heard.
Andrews was originally charged six counts of fraud by false representation, contrary to Section 1 and 2 of the Fraud Act 2002 and one count of obtaining money transfers by deception.
When, following an operation by the Metropolitan Police Specialist, Organised and Economic Crime Command, Andrews was arrested on 24 April 2013, a bag stuffed with financial documents was slung from an upstairs window into his garden, it is said.
Seven others have been also arrested on similar charges.