Mortgage fraudster banned by FSA

A mortgage fraudster from East London has been banned by the main City regulator from anything to do with the financial services industry.

The Financial Services Authority (FSA) said Andrew Kiplimo was "not a fit and proper person in terms of honesty, integrity and reputation."

Kiplimo, who has disappeared from view, fed bogus mortgage applications to potential lenders.

The FSA said its action was part of a wider investigation of mortgage fraud.

Introduction fees

Kiplimo, who acted as a mortgage "introducer", was accused of making up the pay and employment details on mortgage applications, and also of using false accounts and tax