Are Your Elderly Relatives Safe Against Fraudsters?

1st November 2016 By Arman Khosravi

Elderly people are often vulnerable to fraudsters and that is why it is essential to ensure that they have access to proper legal advice. In one case that proves the point, a widow in her 80s was persuaded by a charming conman to transfer her £500,000 home into his name.

The fraudster posed as a financial adviser and convinced the widow, who is blind, that her property was being placed in a trust with a view to saving Inheritance Tax. In fact, it was conveyed into his sole name and he used it as security to raise a £300,000 mortgage before fleeing the country with the money.

He was eventually extradited back to Britain to stand trial and was jailed for ten years after being convicted of forgery, obtaining property by deception, money laundering, two counts of using a false instrument and four of obtaining a money transfer by deception.

The facts of the case emerged as the Court of Appeal dismissed a challenge to his convictions as wholly without merit and ordered him to serve an extra 28 days in prison for wasting judicial time. However, 146 days that he had spent in custody abroad, awaiting extradition, were credited against his sentence. The Court observed that, happily, the widow has received full restitution of her loss from the bank that granted the mortgage.

Source: Concious

Latest News

Award That Requires Borrowing Made Into Court Order

17th May, 2024 By

Disagreements between separating couples all too often result in litigation that substantially reduces the assets available to them, as was illustrated by a case that recently reached the High Court. At issue was whether awards made by arbitrators in financial remedy proceedings can be made into court orders even if that would require one of the parties to borrow money. The couple had previously had a relationship lasting a few years before resuming their relationship in 2015. They had two children before separating again in 2019. Following their separation, the...

Inheritance Disputes – Costs Risks Can Be Reduced

15th May, 2024 By

Arguments about what someone promised before their death can lead to significant legal costs. However, if faced with a claim against the estate, there may be steps the beneficiaries or executors can take to reduce the risks, as a recent High Court case illustrated. A man had left a farmhouse and agricultural land in Cornwall to his wife, with whom he had also jointly owned a neighbouring area of land. After his death, one of the couple's daughters and her husband claimed that he had told them he wanted them...

Share Rounding Error Does Not Prevent CGT Relief

13th May, 2024 By

There are often very specific rules that must be complied with in order to claim tax reliefs, but if a small mistake arises, the courts may be able to provide assistance. In a recent case, the First-tier Tribunal (FTT) found that an investor was entitled to Entrepreneurs' Relief on the disposal of his shares in a company, despite owning one share fewer than he needed to qualify for it. The investor had agreed to purchase 5 per cent of the shares in the company for £500,000. He wished to own...

Wife Entitled to Maintenance Until Sale of Family Home

10th May, 2024 By

When divorcing couples disagree on how assets should be divided, the courts will seek to arrive at a fair outcome for both parties. In deciding how the proceeds of sale of a former couple's home should be apportioned, the Family Court agreed with the wife that she should receive maintenance payments until the sale took place. The couple had married in 2006. Following a brief separation, they had reconciled for two years before finally separating in 2022. The husband and wife both contended that they should be entitled to about...