Oakley admits £350,000 fraud

The 63-year-old, already serving a three-year and nine-month sentence for fraudulently running three travel firms, had made false claims about his wife Amanda's employment to secure the mortgages.

Amanda Oakley, 51, admitted her part in one of the mortgage frauds dating back eight years at Wolverhampton Crown Court today.

Judge Michael Dudley adjourned sentencing until next month to obtain social inquiry reports on the couple who embraced in the dock at the end of today's hearing.

Amanda Oakley remains on bail with conditions of residence and a £10,000 surety provided by her father, Sidney Bricknell.

At an earlier hearing Oakley admitted two charges of dishonestly obtaining money transfers in 2002 and 2004 in respect of the couple's former home at the Old School House, in Salters Lane, Shrewsbury.

On the first occasion a mortgage was agreed with Abbey National for £158,975 and paid through Henry Lees solicitors.

The second mortgage was for £191,930 and was paid through Terry Jones solicitors.

In addition, Oakley has admitted two further offence of obtaining money transfers.

Amanda Oakley admitted a second offence of obtaining a £5,000 money transfer by falsely stating she was earning £2,000 a month as a landscape gardener.

Oakley has denied five other allegations of obtaining up to £20,000 by deception and his wife has denied three other charges of conspiring with her husband over the second mortgage and another loan.

Mrs Jenny Pitt-Lewis, prosecuting, said the pleas had been accepted and the Crown Prosecution Service would not proceed with the charges. She also made an application for confiscation orders against the couple under the Proceeds of Crime Act.

By Arthur Mills at Wolverhampton Crown Court