'Mortgage broker' John Adebayo Adepoju has been banned by the Financial Services Authority from carrying out regulated business due to a fraudulent mortgage application.

Adepoju was a 'mortgage broker' trading as Landmark Finance. He was stopped from conducting regulated activities with immediate effect on 26 April 2007 because of his direct involvement in the submission of at least one false mortgage application.

The FSA has now cancelled Landmark's permission to conduct regulated business, and Adepoju has also been banned from working in the financial services industry.

Read the rulings here and here.

"his direct involvement in the submission of at least one false mortgage application".



At least one !


White Supremacist Racists can do as many as they like and get away with it because they can insure themselves in their own environment.

Perhaps John Adebayo Adepoju can add a post to this thread explaining exactly what he was doing.

I find it strange that you are exposing one mortgage broker out of thousands but this one is an African.


Why not balance it up and include all the Native Brokers that fall foul of the FSA ?

Or are you so willing to do Massers work for him?

Are we so naive to suggest that the mortgage market has raisen expedontially (sp) so that a House now is worth 300% more than 10 years ago yet wages have risen only about 10% how so has it been possible to secure mortgages under the income multiples of the primary or even secondary lenders /

It goes without saying that this Housing Market is a bubble waiting for itself to be burst!

It seems to me that John Adebayo Adepoju is more likely to be a member of this particular forum than say, Sanjay Patel, Wai Chang Wong or Paddy McDermott.

I wonder when we can expect to hear from him, or perhaps the many members of the African community who I suspect were his clients.

What do you all think?

Did you see Panorama Last Night about the Sub Prime Mortgage Market? This sort of activity is going on whole sale.

As I said. Wages have not raisen at the same rate as the housing market, unless of course you measure wages based on mortgage application forms.

While the FSA bit it's teeth in to the Chap and so they should..............Northern Rock gets government support for mismanagement and irregularities.

Yeah i saw it, but im not so sure programmes like this attack the right people. I think the financial services act weeded out the majority of individual cowboys. The bigger problem actually lies with legit brokerages and more so the sub prime Lenders themselves who legally rip people off.

In 2004 the regulation of mtgs meant that these companies were supposed to do thorough checks on issues such as affordability. Clearly the example of the brother in Abbey Wood who had £500k of borrowed mtg money on £25k of income, affordability is not high on some Lenders agendas.

Does John Adebayo Adepoju post here?

Le Moor you're right. Besides I work in the financial sector and deal with many lenders both prime and sub-prime. I can tell you guys first hand that when BDMs come into the office to give their sales pitch they all tell us ways to get forms filled out where they will turn a blind eye to certain info obviously missing.

They are more interested in telling us how to get around their criteria in order to make a successful application which means commission/bonus for them and money for the lenders than TCF or anything else. Now things have come back to bite them in the ass and instead of the FSA regulating the big boys systematically they pick on the small-medium businesses to show that they are "doing their regulatory work so well" ??? Yet Northern Rock ended up how it is now. Abbey lending up to 5 times income; other lenders will lend you money without having a minimum income criteria or even a minimum time in employment. Self-cert - lol don't get me started on that....