Be Wise: Stay Well Away From Wise Mortgages
The worst scourge of the Costa del Sol never sleeps. If we were used to boiler rooms selling shares, timeshare, legal services (sadly still operating and preying on those who have already lost money to some other boiler room), the very latest scam has now adopted the form of a 120% mortgage loan.
Wise Mortgages, run by a chap who answers to the name John Gladstone, is offering steroidal 120% LTV (loan-to-value) mortgages. The funny thing (there is certainly no fun if you have been stung) is that he claims that a company he works with lends the money.
The mechanism of this loan scam is based on the advance fee fraud, where you pay for something you never get. In the case of Wise Mortgages you end up paying for, probably (as I don’t know anyone who has paid for more than 1 concept), three different concepts: valuation, arrangement fee and insurance policy. I don’t think there is any more to say about this despicable man and what he does, but before I close the post, below is an open letter to Mr John Doust, the real name of John Gladstone.
Open Letter to John Gladstone
Hello John,
No doubt that when reading this post you’ll be taken over with raging fury, surely, as I would if I was framed looking like a silly crook signing worthless paperwork. But think about it for a second, you should be grateful to me: I am saving you from being arrested, yet again, by the Malaga Police Fraud Department II (that is, if you run fast).
We have had a coffee together and I have asked you a straight question: who is the guy on the picture, do you know him? And you have chosen to tell me, several times, that he is the originator of the concept of Wise Mortgages and that you hardly ever see him. You have then also warned me that I should keep it under my hat because it could bring me problems, as a few people who exposed Doust have been jailed for attempting to defame “him”.
You may recall that we spoke on the phone (and I recorded you), and asked you again the same straight question: do you ever see John Doust? And again, your answer was: hardly ever, he lives further down the Coast, but is not relevant anyway. Oh yes, hardly relevant, especially when you can hardly avoid seeing your own self every second of your life.
Also, there are some recordings where you deny seeing John Doust, where you say that these mortgages are whiter than white and a few other lies. You don’t lie however when you admit that google is a terrible thing, for you, that is (not for your existing and future victims).
John, because you are hardly a descendant of Gladstone , you are in fact John Doust, previously John De L’Ouest and at times Michel West or John Michael, a tall and chubby man boasting an unrivalled criminal history and probably the oldest-serving conman currently still roaming the Spanish Costas, operating from an anonymous 3rd floor rented office in a central Marbella building.
So no hard feelings John: I don’t think that you are an unpleasant man but your time as a fraudster is now over: the inexorable march of technology has made it now very difficult to hide your criminal activities behind a silly website offering impossible 120% mortgages (you even have the arrogance to actually contemplate lending this money if HSBC doesn´t!) and the cheerful and “wise” yet fictitious disguise figure of John Gladstone, which you have thought up as being a descendant of the pensive 19th Century 4 times Primer Minister of England (below).
This person is John Michael Doust. The Gladstone link is a family name of one of his mother’s ancestors. Not related to the prime minister at all.
He sadly is a relative of mine
Be wise and avoid
Well done for highlighting this.
It is a shame that some rogue brokers still continue to give Spanish mortgage brokers in Spain a bad name when most of us are honest, hard wrking proffesional individuals, who work in best interest of client.
The key is never pay a fee until you have an offer of lending. Do not pay upfront fees.
Last Thursday 2nd of December the Marbella National Police arrived at the offices of Doust with an arrest warrant. He has not been seen since.
Any news about this person?
John Doust as John Gladstone has now scammed almost $140,000 from two separate international businessmen in a very sophisticated upfront fee fraud.
He can be found shopping in Marbella, going about his normal daily activities http://twitpic.com/7scm0t