“Crime boss” loses £75k after mortgage fraud

Yuan Phoon

February 1, 2012

Lyons was previously ordered to carry out 300 hours community service for two mortgage frauds in 2010 which totalled £259,000.

A subsequent investigation found £148,793 of Lyons’ income during the previous six years could not be accounted for legitimately.

Glasgow Crown Court said it was satisfied that the £75,000 confiscation order represented the amount of money available to it at the time.

The Crown can vary the amount seized if more cash becomes available.

Lindsay Miller, head of the Crown’s serious and organised crown division, said: “Edward Lyons committed two mortgage frauds and transferred criminal property, both of which are serious offences in themselves.

“The court found that £148,793.71 of his income during this time could not be accounted for legitimately.”

The 53 year-old claimed he was self-employed and earning up to £48,000 a year when he was actually working at Chirnside Community Initiative earning just £20,000.

He bought the properties by self-certifying on mortgage applications but was eventually caught out when he applied for a car loan and stated his correct pay.

Miller added: “We can also apply to the court to vary the amount of the order should further funds become available and we intend to make full use of this power.

“Mortgage fraud and the subsequent laundering of the associated free proceeds is often seen by criminals as an easy way to make money.”

Lyons previously admitted defrauding £119,000 from Preferred Mortgages between May 2003 and August 2005 to buy a house at Kelvin Crescent, East Kilbride. He also pled guilty to defrauding £140,000 from HBOS between June 2004 and January 2005 to buy his home in Ashlar Avenue, Cumbernauld.

He also admitted an offence under the act for giving his daughter £30,000 to buy a tanning salon in Dundee, using profits from the sale of an East Kilbride house.

Lyons, who is alleged to be in a long-running feud with another notorious crime family, was cleared of attempted murder in 2001.

Police also seized £63,000 from his home in 2004 for alleged drug dealing.

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