Family of property developers imprisoned for multi-million pound mortgage and investment fraud
Four property developers have been imprisoned today (9 February 2023) for multiple counts of mortgage and investment fraud which has resulted in losses to investors of over £1.5m with the defendants benefitting over £2.8m.
Audrey Osbourn, 66, and her sons Gary Moore, 44, Clayton Moore, 48, and Ian Moore, 45 were found guilty of multiple counts of fraud and money laundering related offences and sentenced to three years imprisonment each with the exception of Ian Moor who has received a sentence of two years and four months imprisonment at Merthyr Tydfil CC.
Osbourn ran a mortgage brokerage business, Credence Finance Limited. This company was used as a vehicle to submit multiple false declarations of income in support of mortgage applications.
In addition to the mortgage frauds, the family secured a number of investors in Dreamscape Homes, including family friends, employees, and Credence customers. The investors provided around £20k to £104k each. Some of the investors re-mortgaged their own homes to fund this. They received Share Certificates in return. None of the investors received a return as the land was never developed.
Gurminder Sanghera of the CPS said: “Between them, Audrey Osbourn and her sons committed multiple offences of fraud and money laundering through dishonesty, misleading mortgage providers and betraying the trust placed in them by friends, employees and customers. They did so for their own personal benefit.
“The victims suffered financial hardship as a consequence of the defendants’ greed. Others described the emotional heartbreak and distress caused to them and their families.
“We will now pursue confiscation proceedings against them to ensure they have not benefitted from their criminal conduct and, if possible, to compensate the victims.”
The CPS is committed to working alongside the government and law enforcement to provide a multi-agency response to combat all types of fraud.
Our specialist prosecutors work to seek justice in a variety of cases including those that cause the greatest harm to the public, particularly involving vulnerable victims.
Notes to editors
- Gurminder Sanghera is a Unit Head for the CPS Serious Economic Organised Crime and International Directorate (SEOCID)
- SEOCID was launched on 1 April 2022 and is the CPS’s response to the changing nature of crime by bringing together specialists in organised and economic crime as the lines in this criminality are being blurred even more
- Audrey Osbourn (DOB: 23/02/1956) was found guilty of three counts of fraud, one count of conspiracy to commit fraud by false representation and one count of obtaining a money transfer by deception and sentenced to three years imprisonment
- Gary Moore (DOB: 19/07/1978) was found guilty of two counts of fraud, one count of conspiracy to commit fraud by false representation and one count of obtaining a money transfer by deception and sentenced to three years imprisonment
- Clayton Moore (DOB: 03/10/1974) was found guilty of one count of fraud, one count of conspiracy to commit fraud by false representation and four counts of obtaining a money transfer by deception and sentenced to three years imprisonment
- Ian Moore (DOB: 02/01/1977) was found guilty of two counts of fraud and one count of conspiracy to commit fraud by false representation and sentenced to two years and four months imprisonment