A 64 year-old Peckham man has been charged with fraud for allegedly advising on mortgages without being authorised as a broker.

Peterson Okoh appeared in Westminster magistrates court on Wednesday accused of arranging mortgages, between January 2018 and December 2023, without the right permissions.  

The FCA also alleges a significant number of mortgage applications arranged by Mr Okoh contained false information or used forged documents. 

Mr Okoh has been charged by the FCA with three counts of fraud by false representation and one count of carrying on regulated activities without authorisation. 

He has pleaded not guilty to all counts. 

The case has been sent to Southwark Crown Court for a plea and trial preparation hearing on August 28.

Peterson Okoh has been released on conditional bail with conditions of home residence, not to carry on acting as a mortgage adviser while unauthorised.

He must also refrain from contacting any prosecution witnesses directly or indirectly.

In March a broker was given a suspended sentence in relation to £3m of fraudulent applications following an FCA investigation.

Research suggests that mortgage-related fraud increased by a third in the year to September 2023.