Cash seized from mortgage fraudster

Feb 1 2012

A fraudster is to have £75,000 of assets seized under proceeds of crime laws.

Edward Lyons, 53, pleaded guilty at Glasgow Sheriff Court back in March 2010 to two mortgage frauds and transferring criminal property. He was sentenced to 300 hours community service.

Lyons obtained two mortgage loans by falsely claiming that he was self-employed and in receipt of a salary well in excess of his actual earnings.

The transfer of criminal property took place when he used money gained through the mortgage fraud to give a £30,000 gift to his daughter, Ashley Lyons.

At Glasgow Sheriff Court a £75,000 Confiscation Order was made against him. They are made following conviction, ordering a criminal to pay a fixed sum of money from the proceeds of crime.

Lindsey Miller, head of the Serious and Organised Crime Division (SOCD) at the Crown Office, said: "Edward Lyons committed two mortgage frauds and transferred criminal property, both of which are serious offences in themselves.

"Transferring criminal property is classed as a lifestyle offence under the Proceeds of Crime Act, allowing the Crown to investigate his income over the six years preceding his arrest.

"The court found that £148,793.71 of his income during this time could not be accounted for legitimately. We are satisfied that the £75,000 confiscation order represents the amount of money available to us from Lyons at this time.

"We can also apply to the court to vary the amount of the order should further funds become available, and we intend to make full use of this power."

SOCD works with the Civil Recovery Unit and other law enforcement agencies such as the Scottish Drugs Enforcement Agency, UK police forces, Revenue and Customs and the Department for Work & Pensions to identify and recover the proceeds of crime.