29/05/2015

Mother And Son Fraudsters Given Six Months To Repay £2.8m

A mother and son team convicted of mortgage fraud have been given six months to repay more than £2.8 million, of face a further 11 years in jail.

45-year-old Wayne Stubbs and his 62-year-old mother, Wendy, were convicted in September last year of obtaining mortgages by lying about their income and employment, which enabled them to trade their way through the London property market.

At the time of their conviction, they owned two flats in Linden Gardens, in the exclusive borough of Kensington & Chelsea, along with a seven bedroom house with swimming pool and cinema room in Orpington Road, Chislehurst.

Mr Stubbs was jailed for six years, while his mother was jailed for three.

At Woolwich Crown Court on 26 May, it was found that Wendy Stubbs had enjoyed a criminal benefit of £2,615,011.07, with realisable assets of £1,698,026.30. Wayne Stubbs was judged to have benefited by £1,931,653.86 with realisable assets of £1,108,079.34. They now have six months to pay or face another six years and five years in jail respectively.

Commenting on the case, Garry Crone of the NCA’s Economic Crime command said: "Wayne Stubbs and his mother built up a huge property empire based on fraud and deception. This order means that in addition to serving substantial jail sentences for their crimes, they will not be able to enjoy the lavish lifestyle they had funded with their criminal assets."

(MH)

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