Longridge man part of 22million Euro loan scam (From Lancashire Telegraph)

Longridge man part of 22million Euro loan scam

6:00pm Monday 5th December 2011 in News

A RIBBLE VALLEY man has admitted his part in a €22 million loan scam.

Mark Terrence Pattinson, 37, of Sharley Fold, Longridge, appeared at Southwark Crown Court alongside two co-accused.

The court heard that Pattinson committed the loan fraud along with Kevin James Steele, 50, of Forge Drive, Claygate, Esher, Surrey, and former property developer Michael Andrew Shephard, 50, of Wellington Road, Lancaster.

Ex-QPR director Steele, 51, provided phoney paperwork stating Shepherd, had £76.4m in two accounts to trick EFG Private Bank into paying out a huge loan.

The Swiss bank was told the cash would be used to fund the development of a luxury Turkish resort where England striker Wayne Rooney and Brazilian ace Ronaldinho had bought villas.

Former Claims Direct owner Shepherd claimed he was a 'phenomenally successful businessman' but it was all a charade.

With the help of associate Pattinson, and Steele's false paperwork, Shepherd obtained a loan from EFG of up to 22m euro – more than £17.5m – claiming he had £76m available as a security.

Prosecutor David Aaronberg QC said: “What Mr Shepherd did, assisted by Pattinson, was to pretend that he was a phenomenally successful business man enjoying huge personal wealth.

“The reality was that he had enjoyed some success in business and you will hear it appears that he achieved one particularly good deal, but he was not the multi-millionaire who he and Mark Pattinson pretended him to be.”