Bogus Mortgage Adviser Jailed for £203k Fraud Targeting Four Victims

High-Profile Mortgage Fraud Case Concludes with Suspended Sentence

A man who fraudulently posed as a mortgage adviser and swindled four victims out of more than £203,000 has been sentenced to 25 months' imprisonment, suspended for two years, at Chester Crown Court. Adam Francis, 48, of Rowan Rise, Banton, pleaded guilty to four counts of fraud by false representation after a lengthy investigation by Cheshire Police's Economic Crime Unit.

The suspended sentence also includes an order to complete up to 20 days of rehabilitation activity. A fifth count of fraud was ordered to lie on file. His Honour Judge Everett described Francis's conduct as "totally shameful" and "a con from beginning to end," noting that his actions caused significant distress to the victims.

How the Deception Unfolded

The fraud spanned between February 2017 and August 2018, during which Francis targeted individuals actively seeking mortgage assistance. Operating under the guise of "The Mortgage Man," Francis advertised his services widely, attracting four vulnerable victims who believed they were engaging with a legitimate financial professional.

Working alongside a qualified accountant who has since died, Francis falsely represented himself as a mortgage or financial adviser. The pair employed sophisticated tactics to reinforce their credibility. They contacted estate agents, made preliminary enquiries with authorised mortgage advisers, and instructed solicitors—even paying initial fees to obtain official documents and correspondence. These were strategically presented to victims to create the false impression that their mortgage applications and conveyancing were progressing normally.

Meanwhile, the victims' deposits, legal fees, and other charges had already been stolen. The deception unravelled only when victims independently contacted solicitors to track their application progress. Upon doing so, they discovered that no funds were being held in client accounts and their mortgage applications had never advanced beyond the initial stages.

Investigation and Accountability

Following reports from all four victims, Cheshire Police launched an investigation into the fraudulent scheme. The combined losses totalled £203,436. Francis was arrested and initially answered "no comment" during police interviews, but was subsequently charged and ultimately admitted his guilt.

Detective Constable Catrin Phoenix of the Economic Crime Unit commented on the case: "Francis was a cunning and deceitful individual who convinced his victims into handing over more than £200,000, believing that he was a legitimate mortgage adviser and money was being used towards their mortgage. In reality, Francis had no financial qualifications, and he used the victim's cash for his own personal gain."

Whilst the investigation concluded successfully with Francis held accountable, the detective noted that none of the victims' funds could be recovered. "I do hope that the fact Francis has now been held accountable for his actions will provide them with some closure," DC Phoenix added.

Protecting Yourself from Mortgage Fraud

This case serves as a stark reminder of the importance of verifying credentials when engaging financial professionals. Legitimate mortgage advisers must be registered with the Financial Conduct Authority (FCA) and hold appropriate qualifications. Homebuyers and property investors should always independently verify adviser credentials through the FCA register before disclosing sensitive financial information.

Additionally, always communicate directly with solicitors handling conveyancing and confirm that funds are properly held in client accounts. If you are actively seeking mortgage deals or investment opportunities, using verified platforms with built-in verification systems can help minimise fraud risk. Property investors using deal finder tools should ensure any adviser recommendations come through established, regulated channels.

Source: Property Industry Eye.