A LEADING detective who worked on Operation Bamburgh told tonight (Friday, October 16) of the massive scale of the investigation.

More than 700 statements were taken and 170 suspect interviews were conducted during the seven-year inquiry.

There were 100,000 pages of evidence, 500 boxes of exhibits prepared for a trial, and 251 witnesses spoken to.

Detective Sergeant Jacqui Croskery said it was a huge result for the team and hopes it serves as a warning to others.

"These people have lived a lavish lifestyle on the money they have acquired from defrauding others," she said.

"They have little left to show of their illegitimate gains, which were used to fund a lifestyle beyond their means."

The officer, who has led the inquiry for the last two years, said: "I am proud of the team for what we have achieved.

"The success of these businesses relied upon the acceptance of hundreds of fraudulent mortgage applications to banks and building societies which ultimately resulted in actual losses to those institutions of in excess of £110m.

"The fraud also caused misery and distress to many other people caught up in it.

"In real terms, people have lost their homes, marriages have broken up, and more than one has had suicidal thoughts.

"This has been a difficult and complex investigation which involved around 2,000 individual mortgage applications.

"We have taken over 700 statements and conducted 170 suspect interviews. There was over 100,000 pages of evidence.

"We hope this serves as a warning to others who think we aren't watching. We are. These people have nothing left, not even their freedom, proving that crime simply does not pay."

Northumbria Police worked closely with the Financial Conduct Authority (FCA) and the Royal Institute of Chartered Surveyors in the case.

Georgina Philippou, acting director of enforcement and market oversight, at the Financial Conduct Authority said: "We welcome these convictions and the strong deterrent sentences that have been imposed.

"Tackling mortgage fraud is a vital part of ensuring that the mortgage market works well.

"The FCA worked closely with Northumbria Police during its investigation, and these convictions are a testament to that co-operation."

Luay Al-Khatib, Director of Regulation UK & Ireland at the Rotal Institute of Chartered Surveyors said: “Each of these individuals have let down their professions in the most shameful way. We are glad to have played our part in holding them to account. We demand the highest ethical standards from those in our profession and where these standards fall short, we will take action and, as in this case, work closely with the police and other regulators to ensure that justice is served.”

Clare Tripcony, specialist fraud prosecutor at the CPS said, “This was a complex, manipulative fraud. A number of schemes were used to obtain money the defendants were not entitled to, which even included the deliberate targeting of people who were financially vulnerable.

“The defendants have now been held to account for their greedy and dishonest actions.”

Northumbria Police is now looking at the convicted individuals in respect of seizure of any assets that they may still have under The Proceeds of Crime Act (POCA).