FSA bans broker for fraud

As well as submitting fraudulent mortgage applications, Ogunmoye failed to co-operate with the FSA by refusing to provide a sample of mortgage client files or deal with the investigators.

Ogunmoye operated as a mortgage adviser in Barking, East London and was a director of various companies, such as Excel Mortgage Limited, Excel Property Limited and Array Mortgage Solution Limited.

Margaret Cole, FSA director of enforcement and financial crime, said: "With help from some lenders, we are continuing to focus our enforcement and intelligence activity on mortgage fraud hot spots around the country, including East London.

"Our work on mortgage fraud continues as a priority in our campaign against financial crime. We have banned nearly 70 mortgage brokers over the last three years and we will continue to name and shame mortgage brokers that knowingly giving false and misleading information to prospective lenders."