fbpx

My name is Rhys, a first time dad blogging about my adventures and experiences of being a parent. [email protected]

Swansea property developers sentenced for fraud

Swansea Civic Centre.

Four property developers have been sentenced on Friday (15 October 2021) at Swansea Crown Court to two years imprisonment suspended for 12 months each for multiple counts of mortgage and investment fraud worth over £1m.

Audrey Osborne, 65, and her sons Gary Moore, 43, Clayton Moore, 46 and Ian Moore, 44 pleaded guilty to fifteen counts of fraud, including conspiracy to commit fraud, obtaining money transfers by deception and fraud, following an investigation by South Wales Police Economic Unit.

Osborne ran a mortgage brokerage business, Credence Finance Limited. This company was used as a vehicle to submit multiple false declarations of income in support of mortgage applications.

In addition to the mortgage frauds, the family secured a number of investors in Dreamscape Homes, including family friends, employees and Credence customers. The investors provided amounts of around £25k, some re-mortgaging their own homes to do so. They received Share Certificates in return. None of the investors received a return as the land was never developed.

  • Audrey Osborne was sentenced to two years imprisonment suspended for 12 months.
  • Gary Moore was sentenced to two years imprisonment suspended for 12 months.
  • Clayton Moore sentenced to two years imprisonment suspended for 12 months.
  • Ian Moore was sentenced to two years imprisonment suspended for 12 months.

John Sheehan of the CPS said: “Between them, Audrey Osborne and her sons committed 15 offences of dishonesty, misleading mortgage providers and betraying the trust placed in them by friends, employees and customers. They did so for their own personal benefit and only admitted their wrongdoing late in the proceedings.

“The CPS will now pursue confiscation proceedings against them to ensure they have not benefitted from their criminal conduct and, if possible, to compensate the victims.”