Merseyside lawyer cleared over alleged mortgage frauds

Lawyer was accused of conspiring with six others to commit fraud by conning banks into issuing inflated mortgage loans. A Merseyside lawyer was cleared over his role in an alleged multi-million pound string of commercial mortgage frauds.

Paul Francis Rooney, 59, was acquitted of eight counts of money laundering and fraud by false representation.

The lawyer, who formerly ran Rooney and Co Solicitors, in Wirral, was accused of conspiring with six other men to commit fraud by conning banks into issuing inflated mortgage loans.

It was alleged applications for mortgages were backed by false leases and fraudulently inflated property valuations.

A judge at Birmingham Crown Court formally directed the jury to enter not guilty pleas against seven on the eight counts.

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