Swansea mortgage fraud gang jailed

18/12/2014

Four people involved in a mortgage fraud worth over £5 million have been sentenced at Swansea Crown Court.

Ben Pickering was jailed for six years, Mark Cainen for eight years, Paul John for three years and four months and Emma Davey for twelve months, suspended for two years.

All four were convicted of conspiracy to defraud.

The court heard that Pickering and Cainen made fraudulent mortgage applications to purchase a number of properties around Swansea and Carmarthenshire over an eight-year period. John assisted in processing the applications through his role as a financial advisor. Davey, an estate agent, assisted.

Catrin Evans, Head of the Crown Prosecution Service's Complex Casework Unit for Wales, said:

"These four defendants were involved in an audacious, systematic and very large scale financial fraud, committed over a prolonged period.

"The scale and complexity of their dishonesty was considerable.  Two defendants used a variety of names and used their own companies to facilitate the fraud. Numerous documents were falsified in order to create a web of deceit.

"The group's activities were undone by meticulous and professional work by expert financial investigators, working in tandem with specialist complex casework lawyers. Together, they painstakingly pieced together the prosecution case against Mark Cainen, Paul John, Emma Davey and Ben Pickering. All four have now rightly been held to account for their actions."