A BUSINESSMAN who was dazzled by the idea of making money from houses and lied on mortgage applications to get credit of up to £2 million, has been jailed for four and a half years.

Marlon Hibbert was found guilty of a total of 15 mortgage fraud and money laundering offences at Bolton Crown Court.

The 38-year-old wiped away tears in the dock as his barrister told how the crimes had led to him suffering anxiety and depression.

"He has effectively lost everything," said Christopher Diamond, defending.

"He, like many others, was very naive. He is an illiterate person and did not see the property crash coming.

"It would be wrong to think of him as someone living the high life. It was not worth what happened — he has had a miserable time."

The offences related to 11 mortgage applications which Hibbert, of Butterfield Hall Farm, Plodder Lane, Bolton, made between 2006 and 2008.

On the paperwork he vastly inflated his declared earnings in order to obtain the loans on properties valued at £3.1 million and during his trial tried to blame professional mortgage brokers for his lies.

In fact, during that period, his officially declared income was only just over £8,000.

Louise Cowen, prosecuting, said the fraud opened lenders to the risk of losing between £1 million and £2 million, and following repossession of properties after Hibbert was unable to keep up mortgage payments, there is still approximately £100,000 owing.

The court heard how Hibbert had initially started in business by operating booze cruises in Greece and Spain, but in 2006 he decided to enter the property market.

Mr Diamond told the court: "The offences were not particularly sophisticated. They were quite crudely committed at a time when credit was more easily available.

"The defendant appears to have been influenced by others and fallen in with the wrong crowd.

"It was the defendant who was really dazzled by the bright lights, so to speak. It was not his intention that anyone should lose out."

Judge Graeme Smith, who described Hibbert's history as being one of "from rags to riches", heard how Hibbert had supported charities and cared for his sick mother as well as his partner, children and the son of his brother who died 12 years ago.