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Mother and daughter await sentencing for property fraud where they fooled estate agents

fIXFLO news story

A mother and daughter face sentencing for their parts in a property fraud in which they fooled estate agents and lenders.

Laylah De Cruz, 31, and her mother, Dianne Moorcroft, 62, are due to be sentenced on March 10 following a nine-day trial at Southwark Court.

The pair had taken part in a plot to secure a £1.2m bridging loan on a £3m property in Kensington, London.

Moorcroft had changed her name by deed poll to that of the real owner of the property, and took out a passport in that name.

Another member of the gang, calling himself Mark Armstrong, was renting the property from the real owner. He then went to solicitors claiming the owner wanted to sell up and move to Dubai.

Moorcroft went with him on a second visit to the solicitor to back up the story.

Fincorp was then persuaded to transfer £1,196,108 to a bank account in Dubai as a bridging loan, ahead of the sale of the property.

The money was withdrawn in cash before a Land Registry alert could be acted on.

De Cruz’s role in the scam was revealed by texts she sent her mother, encouraging her to join the scam for £30,000, which was then upped to £100,000.

Southwark Court heard that De Cruz’s boyfriend, Karl Cronin, 50, masterminded the fraud but is on the run.

Cronin is reportedly wanted in connection with a £5m property fraud in Chelsea and Fulham eight years ago – the case was featured in a Crimewatch appeal.

He is known to have used 11 aliases and targeted estate agents by claiming to be the owner of rented properties on which the mortgage had been fully paid.

He would then remortgage the properties, take the cash and leave the rightful owner with the bill.

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Source:: Mother and daughter await sentencing for property fraud where they fooled estate agents