Nine people have been arrested in a £40 million buy-to-let fraud against Bradford & Bingley. All nine are suspected of overvaluing more than 500 properties in the south of England between 2005 and 2007, and are being questioned on suspicion of conspiracy to defraud and money laundering. Banking insiders say that this is the ‘tip of the iceberg’, and as house prices continue to fall more and more of these cases will surface. Those living in the affected properties have been told that ‘every effort’ was being made to stop them losing their homes.
