Adam Francis, a 48-year-old from Banton who operated under the alias 'The Mortgage Man', has been given a suspended prison sentence after defrauding four aspiring homebuyers of more than £200,000. Appearing at Chester Crown Court on Monday (27 July), he was sentenced to 25 months in prison, suspended for two years, and ordered to complete up to 20 days of rehabilitation activity.
How the scam worked
Between February 2017 and August 2018, Francis posed as a legitimate mortgage expert. Victims approached him after seeing advertisements for his services. Working alongside a now-deceased qualified accountant, Francis met clients in person to build trust. The pair instructed victims to hand over large sums intended for mortgage deposits, legal fees and administrative charges.
To maintain the illusion of legitimacy, Francis contacted estate agents and genuine mortgage brokers to generate paper trails, instructed solicitors and paid initial fees to secure official documentation. He also forwarded legitimate-looking emails and paperwork to victims to convince them the conveyancing process was underway. In reality, Francis and his associate pocketed the funds.
Discovery and prosecution
The scam unravelled when victims contacted solicitors directly to check on the progress of their purchases, only to find no progress had been made and no money was held in client accounts. They reported the matter to Cheshire Police, with total losses amounting to £203,436 across the four complainants.
After his arrest, Francis answered 'no comment' to all fraud allegations. He later pleaded guilty to four counts of fraud by false representation; a fifth count was ordered to lie on file.
Police and judge comments
Detective Constable Catrin Phoenix, of the Economic Crime Unit at Cheshire Police, said: "Francis was a cunning and deceitful individual who convinced his victims into handing over more than £200,000, believing that he was a legitimate mortgage adviser and money was being used towards their mortgage."
"In reality, Francis had no financial qualifications and he used the victim’s cash for his own personal gain," Det Con Phoenix added. "While we have been unable to recover any of the victim’s cash, I do hope that the fact Francis has now been held accountable for his actions will provide them with some closure."
During sentencing, His Honour Judge Everett described how Francis "took the victims for a ride". The judge added his actions were "totally shameful" and "a con from beginning to end" which caused significant distress to the victims.
