FCA has imposed a fine of £945,277 and banned a sole trader involved in sale and rent back agreements. It found Gurpreet Singh Chadda claimed he would purchase properties when in fact the purchasers were unregulated third parties, valued the properties himself rather than independently and well under market price, and helped the actual purchasers get mortgages based on information he knew to be misleading. FCA found he also imposed on the sellers excessive charges and legal expenses for the transaction, and created misleading documentation. He aggravated the misconduct by making false and misleading statements to FCA and trying to impersonate witnesses. (Source: Final Notice - Gurpreet Singh Chadda)