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Welsh mortgage fraudsters granted extra time to repay fine

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  • 21/08/2015
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Welsh mortgage fraudsters granted extra time to repay fine
A couple who lied to lenders about their income and circumstances to obtain loans have been given another eight weeks to pay back their £448,000 fine.

Michael Creamer, 51, and Anita Creamer, 50, of Parc Waen, Conwy, were granted another eight weeks to sell two houses to pay back the court confiscation, according the Daily Post North Wales.

The pair were convicted in 2013 at Mold Crown Court for conspiring to get falsified mortgages over a period of 12 years to fund careers as property developers. Michael Creamer, who was also convicted of offences relating to credit card fraud, was jailed for four years and two months and ordered to pay back £219,000 and his wife of two years was ordered to pay £229,000.

Their lawyer Michael Hogan told Llandudno magistrates: “They have every intention of paying as much as they can in satisfaction of the order.

“There were two potential cash buyers for one property with offers of £250,000.”

The couple face further imprisonment of 33 months if they fail to pay the full sum.

The hearing has been adjourned until 15 October.

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