An unauthorised mortgage broker has been charged with fraud, the Financial Conduct Authority has revealed.
Peckham based, Peterson Okoh, 64, appeared at Westminster Magistrates Court on Wednesday (July 31) for allegedly advising on and arranging mortgages between January 2018 and December 2023 without being authorised.
The FCA also alleged a “significant” number of mortgage applications advised on and arranged by Okoh contained “false information” and/or were supported by forged documents.
Okoh has been charged by the FCA with three counts of fraud by false representation and one count of carrying on regulated activities without authorisation.
Okoh has pleaded not guilty to all counts.Fraud by false representation is contrary to section 2 of the Fraud Act 2006 and is punishable by a fine for up to 10 years in prison.
Additionally, carrying on regulated activity in the UK without authorisation is contrary to section 19 of the Financial Services and Markets Act 2000 and is punishable by a fine or up to two years in prison.
The case has now been sent to Southwark Crown Court for a Plea and Trial Preparation Hearing on August 28 2024.
Okoh has been released on conditional bail with conditions of home residence, not to carry on acting as a mortgage adviser while unauthorised, and not to contact prosecution witnesses directly or indirectly pending his next appearance.
tom.dunstan@ft.com
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