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THOMPSON v NATIONWIDE BUILDING SOCIETY (2013)

A master was entitled to find that an individual had been knowingly involved in a dishonest transaction connected with mortgage fraud, and that the individual could not show that monies which he had received belonged to him and not to a building society who had been the victim of the fraud.

12 April 2013

Ch D - Newey J

11 April 2013

The appellant (T) appealed against a decision that he had been knowingly involved in a dishonest transaction arising out of a mortgage fraud.

The respondent building society had agreed to advance 244,000 to a borrower to assist her in purchasing a property. The building society was led to believe that the property was being offered for sale by its owners, who were represented by a solicitors firm (M). M told the building society's solicitors that they had received the balance of the purchase price from the proposed purchaser, but the building society insisted that all of the purchase monies had to pass through its own bank account. T loaned 104,000 to M, who in turn passed that sum on to the building society's solicitors. The building society then paid the mortgage advance plus the 104,000 to M for the purported purchase. M then transferred 125,000 to T. It subsequently became clear that the owners of the re...

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