One of this year’s Apprentice runner ups has pleaded guilty to recent accusations of fraud, it has been revealed.
The contestant from BBC’s show, which ended earlier this week, was guilty of altering mortgage applications in order to boost his monthly earnings.
In order to earn himself commission, mortgage broker Christopher Farrell inflated clients’ incomes, which helped the process of securing home loans.
The 29 year old contestant who was fired in week eight of The Apprentice pleaded guilty at Plymouth Magistrates’ Court to fraud and will be sentenced on 28 January.
Prosecutor David Gittins told the court “Christopher Farrell started working as a mortgage and insurance adviser with the company, Mortgages for Plymouth, in November 2007 until he was told: ‘You’re fired’ in August 2009.
“After that he took part in the BBC programme The Apprentice until he was fired from that in November.”
It was explained by Gittins that Farrell, who was previously earning a salary of £1,600 a month, would make commission if he reached sales targets.
Farrel began inflating the incomes of clients to ensure their mortgage applications were successful and ensuring he reached the sales target.
He would do this by altering both P60 forms and payslips to place his clients in a more favourable position to a mortgage lender, along with creating fake documents for his clients.
Farrell, married with a young family, admitted to for charges of fraud and was committed to Plymouth Crown Court by the magistrates following his plead.
It was revealed that in one instance, Farrel made an application for a client with a £40,000 salary which showed he earned £120,000 a year.
Mr Gittins told the court “He altered the monthly pay slips and the Halifax approved that mortgage application but a forged signature was spotted.
“The clients had no knowledge of what he did.”