Two jailed for £50m mortgage fraud

Ian McGarry, a former chartered surveyor and director at Dunlop Haywards Lorenz, from Hertfordshire, and Saghir Ahmed Afzal, from Birmingham, were sentenced at Southwark Crown Court this week to seven and 13 years' imprisonment respectively. In sentencing, Judge Beddoe said Afzal had headed up with his brother a "massive and carefully-orchestrated confidence trick" over two years, conning Cheshire Building Society, Bank of Ireland, Société Générale and the Nationwide Building Society out of £50m. Very little of the money has been recovered and Judge Beddoe said that the value of the f...