The High Court has ordered a “sham” broker and rentback scheme operator to pay £4m for exploiting vulnerable borrowers who were at risk of repossession.

In one aspect of their scheme, the defendants used finance from two legitimate lenders – Together and Lendinvest – misleading the companies into believing they were lending on buy-to-let properties.

https://www.mortgagefinancegazette.com/market-news/fraud/sham-brokers-who-conned-btl-lenders-and-clients-to-repay-4m-05-08-2024/