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Rajinder Gill got two and a half years behind bars. The judge handed down the sentence on March 10, 2026, after Gill ran an illegal sale-and-rent-back scheme that ripped off desperate homeowners for nearly a million pounds. Pretty brutal stuff.
Gill’s company, Secure Property Consultants Ltd, basically preyed on people who couldn’t keep up with their mortgages. He promised quick home sales where owners could stay put as tenants, but then hit them with massive hidden fees totaling £925,233. Some folks ended up getting evicted anyway. The whole operation ran from September 2014 to November 2018, and it wasn’t his first rodeo with regulators.
Judge Weekes didn’t hold back. Called Gill “dishonest and manipulative.”
The FCA’s Steve Smart said the scheme caused “misery” for vulnerable people. Two other guys got lighter punishments – Amandeep Heer picked up a two-year community order, while Jetinder Sandhu did 100 hours of unpaid work under a suspended sentence. When Gill caught wind of the FCA investigation, he tried covering his tracks by shutting down the company and telling clients to keep quiet.
Gill pleaded guilty to 27 charges related to the dodgy agreements, with another 12 offenses factored into his sentencing. Heer fought his case but got found guilty on three counts after trial. The FCA’s now going after their money through confiscation proceedings, trying to get cash back for victims. Gill can’t be a company director for eight years either.
Sale-and-rent-back deals are pretty risky business. Homeowners sell below market value but stay as tenants – usually when they’re drowning in debt and running out of options. You need FCA authorization to run these schemes legally.
Gill didn’t have it.
Back in 2013, the FCA already had Gill in their crosshairs and made him sign undertakings to stop doing unauthorized financial activities. He signed more promises in August 2014. Didn’t matter – he kept going anyway, which is why he ended up in criminal court. Breaking the Financial Services and Markets Act 2000 can land you two years in prison, and that’s exactly what happened here. More on this topic: FCA Shuts Down Sendsii Ltd After.
The FCA regulates over 50,000 financial firms across the UK, and Steve Smart’s enforcement team has been cracking down hard on illegal schemes targeting vulnerable people. They’ve been pretty vocal about consumers needing to check if firms are properly authorized before doing business. The regulator’s Firm Checker tool lets people verify credentials, which could’ve saved Gill’s victims a lot of trouble.
For the homeowners who got scammed, it wasn’t just about money. Many faced serious emotional distress after being told they could stay in their homes, only to get eviction notices later. The ongoing confiscation proceedings aim to get them some compensation, though it probably won’t undo all the damage.
The case fits into the FCA’s broader push against financial misconduct. On March 12, 2026, regulators doubled down on their commitment to protect consumers from unauthorized schemes. Smart has been making the rounds, telling people to use the Firm Checker before signing up for sale-and-rent-back deals.
Gill’s eight-year director ban sends a message to other potential fraudsters. The FCA wants to keep the financial services market clean and stop future exploitation of desperate consumers. They’re pretty serious about enforcement these days.
The confiscation proceedings against Gill and his crew are still working their way through the system. The FCA wants to recover those illicit profits and get money back to victims who lost both cash and peace of mind. It’s a long process, but regulators seem determined to see it through. Related coverage: Crypto Project Montra Vanishes After Claiming.
Smart keeps pushing the message about credential verification. On the sentencing day, he reminded consumers that checking FCA authorization is crucial before dealing with any firm offering sale-and-rent-back agreements. Simple step that could prevent major headaches down the road.
The whole mess started when desperate homeowners thought they’d found a lifeline. Instead, they got taken for a ride by someone who’d already been warned by regulators. Gill’s prison sentence and director ban show what happens when you ignore FCA warnings and keep exploiting vulnerable people.
Victims are still waiting to see how much money they’ll get back through confiscation proceedings. Won’t bring back the stress and uncertainty they went through, but it’s something.
Sale-and-rent-back schemes have exploded since the 2008 financial crisis, with hundreds of firms targeting cash-strapped homeowners. The National Audit Office reported a 300% increase in these arrangements between 2007 and 2019, as mortgage defaults soared and traditional refinancing became harder to access.
Consumer groups like Citizens Advice have logged thousands of complaints about predatory practices in this sector. Many victims are elderly homeowners or families facing repossession, making them prime targets for unscrupulous operators promising quick fixes to complex financial problems.
