London accountant’s application for credit licence rejected

197/05 24 October 2005

London accountant and mortgage broker, Twaleeb Ali Mohunger, has had his application for a credit licence turned down by the OFT.

Mr Mohunger, based in Winchmore Hill, had his application refused as he has convictions for perjury, eight counts of theft and two counts of using a forged document. He also failed to inform the OFT of the complete details of his convictions, which is itself a breach of the Consumer Credit Act.

The Adjudicator was not satisfied Mr Mohunger was fit to hold a consumer credit licence and accordingly refused his application. In considering fitness, the OFT will take into account a number of factors including:

any offence or conviction of violence or dishonesty carried out by the business or anyone involved in running the busines
failure to comply with the provisions of the Consumer Credit Act or other consumer protection legislation
consumer complaints and how they are dealt with
evidence of unfair business practice
evidence of discrimination on grounds of sex, colour, race or ethnic origin.

Christine Wade, Director of Consumer Regulation Enforcement, said:

'Mr Mohunger's convictions, coupled with the fact they weren't fully declared to us, are serious matters. They clearly call into question his suitability to offer credit to consumers.'

NOTES

1. The Consumer Credit Act 1974 requires most businesses that offer goods or services on credit or lend money or are involved in activities relating to credit or hire to be licensed by the OFT.

2. The OFT can refuse or revoke a licence if it decides that a trader is not fit to hold one.

3. It should be noted that proceedings under the Act are not the same as those of a court and the adjudicator's findings are not the same as convictions by a court. Therefore where the adjudicator finds that an offence has been committed or a provision of the statute has been contravened, it does not mean that the person concerned has been convicted under court proceedings of that offence or of that contravention.

4. Adjudicators issue and determine licensing Notices under the Consumer Credit Act. They do so on behalf of the OFT, but make individual and independent decisions on fitness based upon the contentions in a Notice, the evidence attached to a Notice and the representations of those to whom the Notices are addressed. Representations may be made in writing and at an oral hearing.

5. An adverse determination (a refusal to grant a licence or the revocation of an existing licence) can be appealed to the Secretary of State for Trade and Industry.

6. The Consumer Credit Public Register is maintained by the OFT. The register documents traders that hold a licence and any action taken against them. It also details traders that have applied for a licence. Enquiries can be made to the Consumer Credit Licensing Bureau on 020 7211 8608.

7. Credit licence application number 570751 was published on 7 October 2005. Mr Mohunger, 45 Park View, Winchmore Hill, London. N21 1QS, has until 4 November 2005 to appeal the decision.

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