Peckham Man Busted for Fraud and Fake Mortgage Advice
A Londoner has been slapped with fraud charges after posing as a mortgage advisor without the proper licences. Peterson Okoh, 63, from Peckham, faced Westminster Magistrates’ Court on July 31, 2024, accused of running an unauthorised mortgage scheme for nearly six years.
Fake Financial Advisor Puts Clients at Risk
- Fraud: Dodgy mortgage advice to rake in cash
- Unauthorised financial activity: Offering advice and arranging mortgages without FCA approval
The Financial Conduct Authority (FCA) launched a full-scale probe after complaints poured in from victims who said Okoh duped them. He allegedly acted like a legit advisor, tricking clients into mortgage deals without proper regulatory clearance.
FCA Cracks Down on Rogue Advisors
“This case highlights our fierce commitment to protecting consumers from unapproved financial dealings,” said an FCA spokesperson. “We urge the public to always check financial advisors on our official register to avoid falling foul of fraudsters.”
Okoh’s clients reportedly suffered serious financial headaches thanks to his sham operation. His lawyer claimed he thought he was acting legally, but prosecutors showed evidence to the contrary.
Next Steps for Okoh: Custody and Court
Okoh is currently remanded in custody and is due back in court later this month for a preliminary hearing. The FCA is pressing on with investigations to hunt down financial fraud and demands anyone affected by unauthorised advisers step forward immediately.
This case is a stark warning: Always verify your financial advisor’s credentials or risk serious trouble. The FCA remains on high alert to protect consumers and keep the financial market clean.
