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CONMAN SENTENCED: St Albans man jailed for 21 months after swindling customers

 Published on: 27th May 2022   |   By: Court Reporter   |   Category: Uncategorized

An unregistered mortgage broker from St Albans was today jailed for 21 months after pocketing £34,000 of his clients money by purporting to arrange mortgages, that never materialised.

John Osborne-Odelli, 49, of Bramley Way, appeared for sentence after having pled guilty to eight charges of fraud in November last year.

He had told his customers, ranging from property investors to newly-married couples, he could arrange loans for various residential and commercial properties at advantageous rates through his company Osborne Consultants in Redbourn. However, the mortgages never came about.

Prosecutor Will Noble said: “He falsely represented that money paid by them to him would secure preferential loans for residential or commercial property. They believed he was helping them to buy property, but the money was never forthcoming.”

Mr Noble also added none of the banks Osborne-Odelli stated he was using had any record of loan applications from him. When he was questioned by police, the broker said he had no business account and was running the company through his personal one, having since run into financial difficulties.

Overall, eight victims lost money between 2013 and 2015, totalling just under £34,500.

Sentence had been deferred for 6 months to give Osborne-Odelli the chance to raise money to repay the victims. But, said Mr Noble, Osborne-Odelli had only £1,000 to offer as compensation.

He had 11 convictions for 47 offences.

Judge Michael Kay QC told him: “It was a total fraud – you were never registered to conduct this type of business.

“You had no special access to anyone to obtain finance. Your intention was to get money to keep for yourself. It was thoroughly dishonest. You tricked people of all backgrounds into handing over money and they lost the prospect of purchasing property. You have shown no remorse,

“I was given some encouragement that you might compensate victims. I deferred sentence, but you have set aside only £1,000.

“I find it extraordinary that despite running a construction company and having no debts, in a 6 month period you have set aside £1000 – that in my judgment is derisory and it shows a continuing contempt for your victims and that you show no remorse at all.

“You are a man who needs to be punished for your dishonesty and greed and your derisory response to the opportunity you were given to make recompense.”

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1 Comment

  1. Kay May 27th, 2022, 5:24 pm

    This man has ruin so many people and con me into thanking he was a real broker.

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