A MAN who ‘grossly misrepresented’ his earnings to take out three mortgages has been convicted.

Fredi Shima, of Mill Lane, Marston, had denied two counts of obtaining a money transfer by deception and one count of fraud.

As his trial at Oxford Crown Court came to an end today, jurors unanimously found the 44-year old guilty of fraud and guilty by a majority verdict on the two counts of deception.

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During the trial which began earlier this week, jurors were told how Shima had scammed the mortgage lenders Birmingham Midshires to get hundreds of thousands of pounds.

Prosecutors said that on one occasion he was able to borrow £140,250 to buy a house in Moorbank, Blackbird Leys, in 2006.

Oxford Mail:

Moorbank, Blackbird Leys, where Shima bought his first house in 2006.

The court heard how Shima applied for a buy-to-let mortgage after claiming he was a hotel manager earning £17,000 a year and had £22,000 in additional income from a second job and a rental property.

In late 2006, prosecutors said, Shima applied for a further mortgage on a house in Kestrel Crescent and borrowed £177,000 and then, in 2009, secured £131,250 to buy a house in Tucker Road, also in Blackbird Leys.

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As his trial continued on Tuesday his defence counsel Stephen Shay pointed the finger of blame at Farooq Ghulam, a witness in the trial who was Shima’s financial advisor at the time and filed the mortgage forms.

Mr Ghulam denied making up the figures in order for Shima to get a mortgage.

Oxford Mail:

Kestrel Crescent, Blackbird Leys, where Shima bought his second house.

Siding with the prosecution, the jury panel of six women and six men took seven hours and one minute to find Shima guilty of all three of the charges against him.

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After the verdicts had been handed down presiding Judge Ian Pringle QC agreed to adjourn the case for a later sentencing hearing so that reports can be prepared to explore all sentencing options.

He warned Shima, however, that ‘custody is very much an option’.

Shima will be sentenced at the same court on March 12.