An unemployed Dundee man has admitted hatching the scheme that defrauded a building society out of almost £300,000.
Despite having been declared bankrupt, Simon Cohen successfully secured the cash from the Newcastle Building Society.
He used it to purchase homes in Invergowrie’s Station Road and in Elderbank Place in the Borders community of Calside.
Perth Sheriff Court heard the 36-year-old, of Crescent Lane, falsified documentation to pretend that two individually named men both unemployed were in fact businessmen of sound financial standing.
By doing so he induced the building society to provide £159,394 and £134,644 mortgages to fund the purchases of the properties.
Cohen admitted carrying out the frauds at various locations across Invergowrie and Dundee between April 30 and August 31 2010 and between August 1 and September 30 2010.
In court his solicitor described the offence as “a fairly complicated matter”.
Sentence was deferred until November 1 for the preparation of reports.
