FSA bans Bournemouth insurance broker
The FSA has banned Peter King and his firm New Forest Mortgage Company Ltd for knowingly submitting applications for fraudulent life assurance policies.
Mr King submitted applications for 39 fraudulent life assurance policies – 30 of which were in the names of applicants whose personal details were either wrong or who knew nothing about the applications – in order to benefit from commission payments of more than £250,000.
Mr King admitted that his plan was to submit the policies, claim the commission and use the money to settle substantial outstanding debts - he is now bankrupt.
Mr King submitted applications for 39 fraudulent life assurance policies – 30 of which were in the names of applicants whose personal details were either wrong or who knew nothing about the applications – in order to benefit from commission payments of more than £250,000.
Mr King admitted that his plan was to submit the policies, claim the commission and use the money to settle substantial outstanding debts - he is now bankrupt.
posted by John Page at 11:07 AM
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