Record fine for home finance trader

A home finance arranger has been branded a "disgrace to financial services" and fined a record sum of nearly £1 million for misleading vulnerable homeowners when selling and renting back their properties.

Birmingham-based Gurpreet Singh Chadda, who traded under the names Red2Black Homes and B&L Homes, was banned from working in the financial services industry and fined £945,277 by the Financial Conduct Authority (FCA) in the largest ever penalty for a sole trader.
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