A man who posed as a mortgage adviser and defrauded four people of more than £200,000 has been sentenced at Chester Crown Court. Adam Francis, 48, of Barnton, Cheshire, received a 25-month prison sentence, suspended for two years, along with up to 20 days of rehabilitation.
Francis had previously pleaded guilty to four counts of fraud by false representation. The fraud occurred between February 2017 and August 2018, with victims approaching Francis after seeing advertisements for his services as the 'Mortgage Man'.
Victims were instructed to hand over mortgage deposits, various charges, and solicitors’ fees to secure mortgage deals. The four victims reported combined losses of £203,436, none of which has been recovered.
Detective Constable Catrin Phoenix of Cheshire Police confirmed that Francis had no financial qualifications and used the victims’ cash for personal gain. Detective Constable Phoenix stated: “While we have been unable to recover any of the victims’ cash, I do hope that the fact Francis has now been held accountable for his actions will provide them with some closure.”