Three NI men jailed for mortgage fraud

Friday 28 February 2014 18.53
Fraud was carried out at height of NI property boom
Fraud was carried out at height of NI property boom

Three men who all worked in the Newry area of Co Down have been jailed for their parts in a multi-million pound mortgage fraud and money-laundering scheme. 

Peter Creegan, 47, from Liska Manor, Newry, once managed the First Trust bank in Newry, Peter Brassil, 51, from Chancellor's Road, Newry, is a former solicitor, and Damien Mallon, 56, from Drumcomwell Road, Armagh, was an estate agent.

The three men falsified mortgage applications and the fraud involved eight properties and amounted to more than £3m.

It was carried out over a period spanning from 2002 to 2008, at the height of the property boom.

All three had pleaded guilty to charges that included theft, false accounting, concealing criminal property and transferring criminal property.

Creegan was jailed for two years with another year on licence, while Brassil was sentenced to a year in prison and a year on licence.

Mallon a father of five, whose role the judge said was minor in comparison to the others, was given a year in jail.