Criminal Mortgage Broker

Paul_Plumber

Am I right to assume that because he worked out of his FSA advice area ,, as in mortgage and insurance advice only ,,, NOT investment advice that we may struggle with compensation from the FSCS ?

jamesd

That presumably fraudulently completed application may be important, for it may be enough to get his professional indemnity insurance involved?

holly_hobby

Yes, he wasn't authorised or registered to give investment advice, so they aren't liable to pick up the pieces - which is why pursuance as a criminal issue through the courts is the route.

Whats come up with regards your checking his PI cover ?

Holly x

Paul_Plumber

holly_hobby wrote: »

Yes, he wasn't authorised or registered to give investment advice, so they aren't liable to pick up the pieces - which is why pursuance as a criminal issue through the courts is the route.

Whats come up with regards your checking his PI cover ?

Holly x

How would one check his PI cover ?

kingstreet

You need to establish his "host" company at the time of your transaction as Washington Mortgage & Insurance Centre was an appointed representative.

http://www.fsa.gov.uk/register/firmPrincipals.do?sid=55954

Between 11/11/04 and 14/11/08 it was Prestbury, under FSA reference 310099.

You should write to the compliance director at Prestbury requesting details of the authorisation of the firm and the individual at the time. You can also request details of the AR firm's professional indemnity insurance at the time, or the host's if an umbrella policy used.

The address is;-

Barrington House
Heyes Lane
Alderley Edge
Cheshire
SK9 7LA.

TBH I'm surprised the firm did not write to all his clients when the fraud was uncovered, to check the quality of the sales.

Just in case, prior to Prestbury, the host was Zurich Advice Network, February 2001 to August 2003.

Paul_Plumber

kingstreet wrote: »

You need to establish his "host" company at the time of your transaction as Washington Mortgage & Insurance Centre was an appointed representative.

http://www.fsa.gov.uk/register/firmPrincipals.do?sid=55954

Between 11/11/04 and 14/11/08 it was Prestbury, under FSA reference 310099.

You should write to the compliance director at Prestbury requesting details of the authorisation of the firm and the individual at the time. You can also request details of the AR firm's professional indemnity insurance at the time, or the host's if an umbrella policy used.

The address is;-

Barrington House
Heyes Lane
Alderley Edge
Cheshire
SK9 7LA.

TBH I'm surprised the firm did not write to all his clients when the fraud was uncovered, to check the quality of the sales.

Just in case, prior to Prestbury, the host was Zurich Advice Network, February 2001 to August 2003.

Prestbury no longer exist,, parrot has deceased !

Paul_Plumber

Follow the link below folks !,,,,


http://www.sunderlandecho.com/news/crime/probe-into-suspected-2-8million-fraud-at-sunderland-finance-firm-1-5966649

KTF

Have you taken legal advise on this as I dont think you are going to get the answer you want from posting on here.

Thrugelmir

holly_hobby wrote: »

Whats come up with regards your checking his PI cover ?

Doubt the transaction and related activities touched the "Company" books.