FSA fines director £100k for mortgage fraud

Raymond Wagner, the director Ambergate Business Services, has referred the matter to the Upper Tribunal where he and the FSA will present their case and the panel will decide on its next step. The Tribunal may uphold, vary or cancel the FSA's decision. In a decision notice dated 14 April 2011, the FSA set out its decision to ban and fine Wagner for knowingly submitting four fraudulent mortgage applications for himself, which contained inaccurate and misleading information including details of an inflated salary. In the FSA's opinion Wagner also failed to properly supervise two of A...