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Glasgow man pleads guilty to fraudulently obtaining mortgage funds of £250,000

31 March 2010

At Glasgow Sheriff Court today Edward Lyons pled guilty to fraudulently obtaining mortgage funds of more than £250,000, between 2003 and 2005.

He also pled guilty to an offence in terms of Section 327 of the Proceeds of Crime Act 2002, by illegally transferring £30,000 of the proceeds from the sale of one of these mortgaged properties to his daughter.

Sentence has been deferred on Lyons until 27 April 2010. The Crown also advised the Court that it would be seeking to recover the proceeds of Lyons' crimes by a confiscation order. A confiscation hearing under the Proceeds of Crime Act 2002 has been set down for 25 May 2010

Speaking after the hearing, Scott Pattison, Crown Office Director of Operations, said:

"Edward Lyons failed to disclose accurate information to mortgage companies in a deliberate ploy to defraud them of money. This involved a gross abuse of trust. The Crown Office specialist National Casework Division is committed to working with other agencies to ensure that financial crime is investigated robustly and where there is sufficient evidence, that perpetrators of these crimes are prosecuted.

"We aim to ensure that crime does not pay. The Crown Office and Procurator Fiscal Service is committed to recovering the proceeds of crime using the full powers available under the Proceeds of Crime legislation."

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