The FSA has banned and fined a London mortgage broker for submitting false and misleading mortgage applications with massively inflated incomes.
Grace Nmadibechi Ada Ukala was the director of South East London brokerage Goldsparkle Consulting Services (Goldsparkle) and an approved FSA person. From 2002 to 2007, she submitted five mortgage applications for herself supported by false and misleading income and employment information. She failed to disclose accurately her earnings from Goldsparkle to Her Majesty's Revenue and Customs (HMRC) and also misused funds belonging to Goldsparkle to meet her personal mortgage repayments. In one mortgage application, she certified her total annual income as £56,100 although Goldsparkle h...
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