A GWENT man is beginning a jail term, and two others from the area will be sentenced on Monday, for their roles in a multi-million pound series of conspiracies to defraud, involving mortgage applications.
Malcolm Pow, 57, of Heol Towy, Caldicot, was jailed for two years and two months by Judge Martin Fitton at Cardiff Crown Court, after pleading guilty to a charge of conspiracy to defraud.
Robert Maxwell, 59, of Richmond Road, Six Bells, was convicted following a trial on four counts of conspiracy to defraud, and 45-year-old Omer Mian, of Conway Road, Newport, has pleaded guilty to a charge of conspiracy to defraud.
Prosecuting counsel Jonathan Rees told a sentencing hearing that seven men were involved in a series of conspiracies to defraud, over more than four-and-a-half years from January 2009, involving at least 80 fraudulent mortgage applications.
"More than half were completed, with lending in excess of £4m on the back of false applications," said Mr Rees. He added that the other - unsuccessful or uncompleted - applications potentially involved around £5m.
The other defendants are: Peter Gay, 64, of Whitchurch, Cardiff; Kenneth Bacon, 66, of Efailwen, Carmarthenshire; Michael Bishop, 39, of Singapore; and Supriya Misra, 39, of Church Village, Pontypridd.
All have backgrounds in banking, accountancy or financial services, or worked in the financial sector. 
Gay was sentenced to three years and nine months in prison, Bacon to five years, Bishop to four years, and Misra to two years and nine months. All pleaded guilty to, or were convicted after trial of, conspiracies to defraud, and making or supplying articles for use in fraud.
Dozens of initially genuine mortgage applications were falsified by the men with false pay slips, false accounts, and false accountants' certificates, to try to ensure applications were approved, without applicants' knowledge. Thousands of pounds exchanged hands in commissions and payments between them.
 Pow, who previously worked in the financial sector, was involved with Gay and Maxwell in several fraudulent mortgage applications during 2011-13, in which £1.6m was applied for.
Judge Fitton told the men they had "collectively put aside considerations of honesty or appropriate conduct, and the sorts of consideration an honest broker or building society agent would wish to fulfil."