Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Tuesday, January 24, 2017
Tenant Changes Her Name In Scheme To Steal Dead Landlady's Identity, Then Goes On To Refinance Rented Home, Pocketing £1.2 Million In Loan Proceeds
In London, England, The Mirror reports;
A model daughter and her mum who stole the identity of a dead millionairess property owner in a £1.2 million scam face jail after being found guilty of the fraud plot.
Diane Jean Moorcroft, 62, changed her name by deed poll to assume the identity of a dead landlady and opened bank accounts to convince solicitors she owned an upmarket home in Kensington.
She was helped in the scam by her Dubai-based daughter Laylah Scarlett De Cruz, 31, reportedly a model, who played a “pivotal" role in the deceit.
The pair now face jail after they were convicted at Southwark Crown Court of conspiracy to commit fraud.
In 2014, they conspired with others to rent a property in Kensington, west London, using fake documents, police said. But when the tenancy of the property was secured, Moorcroft changed her name by deed poll to the genuine owner who had died.
She then travelled to Dubai where she opened bank accounts with a new UK passport in the dead landlady’s name.
Back in London, she applied for a loan of £1.2 million against the reported £3 million-valued property which was approved in October 2014 before funds were transferred to Moorcroft’s Dubai bank accounts. The loan was later withdrawn in cash and the money has never been recovered.
Scotland Yard detectives launched an investigation later that month after the Land Registry flagged suspicious activity around the Kensington property.
Moorcroft, of Blackpool, was arrested in February 2015 at her home and De Cruz was arrested as she entered the UK from Dubai in May last year.
The pair were found guilty at Southwark Crown Court of conspiracy to commit fraud.
Detective Constable Richard Kirk, of the Met, said: "Having gained access to the property by renting it, Moorcroft duped a solicitor into believing that she was the rightful owner and signed documents to that effect. "The suspects then approached a broker and obtained a bridging loan of £1.2 million against the property.
"De Cruz played a pivotal role, she recruited her mother and persuaded her to change her name to that of the deceased owner of the address and open bank accounts in that name.
"Having been promised a percentage of the proceeds of the fraud, Moorcroft willingly took part.”
De Cruz and Moorcroft were released on bail and will be sentenced on March 10.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
The information, reporting, and commentary contained in The Home Equity Theft Reporter are intended solely to provide general information on The Home Equity Theft issues occurring throughout the United States and are based on information sources deemed reliable by The Home Equity Theft Reporter.
This weblog is not intended, nor should it be regarded by the reader, as a solicitation for business. The posts on this site are presented as general research, information and personal opinion of The Home Equity Theft Reporter and are expressly not intended, shall not constitute, and should not be regarded by anyone, as legal advice.
No claims, promises or guarantees about the accuracy, completeness or adequacy of the information linked to or from this weblog are contained herein.