Crooked broker hit with £240k bill

Sarah Davidson

July 7, 2011

Disgraced adviser Martin Watson lied on forms submitted for unsuspecting clients and backed up untruths using forged documentation from his South Shields accountant Paul Robertson.

The fake payslips and P60s ensured Watson was guaranteed to be granted loans and secured huge commission.

Watson, jailed for three years and nine months, but now released, was at Newcastle Crown Court yesterday for a Proceeds of Crime hearing. It was agreed he benefited by £913,307 through his crimes – but the available assets he has is £237,624.

Judge Roger Thorn made an order that the £237,624 be paid in six months, or Watson will face a further three years ‘imprisonment in default.

Watson, who had been working on a self-employed basis for a Gateshead firm, deliberately submitted 21 mortgage applications containing false information.

The 54-year-old, of Collingwood Crescent, Ponteland, had admitted conspiracy to obtain money transfers by deception and intimidation.

Robertson, 51, of Renforth Close, Gateshead, who used his firm in South Shields to manufacture the forged documents, was jailed for 12 months at the same hearing as Watson in May last year.

He had admitted the same conspiracy charge.

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