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Cyprus property fraudster convicted (update)

Sascha Morris, who sold off-plan properties to Cyprus property investors, has been convicted of fraud at the Leeds Crown Court following a prosecution by the CPS Specialist Fraud Division.

Cyprus property fraudster convicted

Leeds Crown Court

FRAUDSTER Sascha Morris who duped Cyprus property investors out of more than £5 million by promising them impossible returns has been convicted following a prosecution by the CPS Specialist Fraud Division.

Sascha Morris, 46, was convicted of two counts of fraud and another of fraudulent trading following a trial at Leeds Crown Court. She will be sentenced on 9 January 2017.

The court heard how Morris persuaded UK investors to part with cash for off-plan properties in Cyprus by promising false returns on quick sales. She also promoted non-existent relationships with holiday lettings firms said to be available to lease properties that were not sold. Investors were encouraged to put money in at the start of projects on the basis that they could sell before they were completed. When buyers were not found and the projects neared completion, the investors were pursued for further payments that they had never expected to make.

In another part of the fraud, Morris sourced more than £2.6 million from two groups of investors to a company she claimed would finance property developments. Each group thought their investment was underpinned by the value of the company but was unaware that the other group was involved and would be entitled to half of that value. When the schemes failed, the vast majority of the money was lost.

Simon Higginbotham, Specialist Prosecutor from the CPS Specialist Fraud Division, said: “Some of the investors targeted by Sascha Morris had to remortgage their homes or borrow large sums in order to raise money they had never expected to pay.

“Through careful analysis of the financial transactions the prosecution was able to demonstrate to the jury how Morris deliberately misled investors in order to achieve financial gain for herself.”

The conviction follows an investigation carried out by North Yorkshire Police’s Major Fraud Investigation Team.

Update 10.01.2017

Sascha Morris was sentenced to 8.5 years in prison at Leeds Crown Court yesterday for duping property investors out of £5 million. Good result!

Readers' comments

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  • stanno says:

    The island should be called Hornets Nest Or Fraudster Bankster Paradise.

    Absolute run-over by corruption more so from Government

  • Dave D says:

    CostasApacket,

    Oh how right you are……on another subject has anyone managed to obtained there Deeds of late, I have not heard of one single person who has done so.

    Ed: Last year a total of 16,110 pieces of property were transferred to their ‘new’ owners compared with 11,469 in 2015, 9,398 in 2014 and 8,609 in 2013. You can find the statistics on the Department of Lands & Surveys’ website.

  • CostasApacket says:

    Great result.

    Wouldn’t it be great if we saw more evidence of Cypriot fraudsters being dealt with in this way by the misfiring Cypriot pick & mix Justice System.

  • Mike says:

    Oh the intoxicating power of greed. The world seems full of those willing to offer untold riches for very little input or effort, strange how it never transpires.

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