Mr Fastcash goes quick to jail for masterminding £6.8million mortgage racket 'stealing' luxury homes

A property tycoon nicknamed 'Mr Fastcash' has been sentenced to four-and-a-half years at Manchester Crown Court for masterminding a £6.8million mortgage racket to fund a life of wheeler dealing.

Marshall Joseph, 56, was the boss of a housing crime gang which 'stole' luxury homes across Britain and then illegally used them to obtain a string of loans.

Joseph – who got his nickname due to his firm Fastcash Property – joined forces with professional gambler Alick Kapikanya, 45, who in turn used the scam to fund his own life of casinos, residencies at top class hotels and homes in millionaire rows.

Chauffeur driven businessman Kapikanya helped Joseph recruit a team of conmen including a crooked conveyancing agent to acquire the title deeds of houses then use fake passports or driving licences and utility bills to pose as the real homeowners.

The gang would go to solicitors offices throughout Britain using the fake documents to sign over  the properties to Joseph so he could take out loans with a number of financial institutions – securing the mortgages against the 'stolen' homes.

The true owners of the ten properties involved in the scam knew nothing about the illegal loans secured on their homes.

Police only uncovered the fraud after Joseph defaulted on secured loans repayments and it emerged he was involved in a string of scams.

Some of the money from the scam went on gambling sessions at the Ritz Hotel Casino in London.

Joseph, Kapikanya and their accomplices grabbed £3.5million and were about to get a further £3.3million from their racket when they were stopped.

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