- Andrew Ratnage, 50, and his boss Raymond Pask, 54, guilty of scam
- Pair set up fake companies and used relatives’ names to get mortgages
- Bankers borrowed £3m and bought five homes in London, Kent and Essex
- All the cash came from their own bank NatWest, which is owned by RBS
- Judge spared them jail because they ‘suffered’ and were ’embarrassed’
Two ‘greedy’ Royal Bank of Scotland bankers who masterminded a £3million property fraud were spared jail after a judge decided they had already ‘suffered’ enough.
Andrew Ratnage, 50, and his boss Raymond Pask, 54, were both earning more than £100,000-a- year but wanted to make more money using a mortgage scam.
Together they set up a series of fake companies in the name of Pask’s family and then made applications for loans to ‘tart’ up homes and sell them at a profit.
The bankers, who were based at NatWest’s office in Romford, Essex, a bank owned by RBS, then fraudulently borrowed just under £3million over five years