Fredi Shima of Marston in Oxford obtained three mortgages for almost £450,000 between 2006 and 2009 by grossly misrepresenting his income.
The trial heard that Shima had overstated his employment by claiming to be a hotel manager earning £17,000 when he had actually been working either in a fast food burger chain or in a pub.
He also stated he had been receiving more than £20,000 in rental and overtime income a year.
Broker accused
The Oxford Times reported that during the trial Shima’s defence accused his then broker of falsifying the details to ensure he was paid his commission.
The adviser, who has more than 20 years’ experience, denied this and said he would have only entered the information given by his client.
Shima bought two properties in 2006 using mortgages from Birmingham Midshires and then purchased a further property in 2009.
The mortgages were for £140,250 and £177,000 in 2006 and for £131,250 in 2009.
Jail an option
Shima, 44, was found unanimously guilty of fraud, and guilty by majority on the two deception charges, the Oxford Mail reported.
He will be sentenced on March 12 with Judge Ian Pringle QC noting that a prison sentence was “very much an option”.
