Cindy Brad became an appointed representative of the regulated advice firm in 2017 despite having previously been jailed for 18 months in 2009 for theft and obtaining a money transfer by deception.
But since then Brad, from Melton Mowbray, used three different identities to disguise her criminal past, formally changing her name.
Brad also made false representations to the disclosure barring agencies in England, Wales and Scotland to obtain certificates that allowed her to become an appointed representative.
She used one of these identities to supply false banking documents to secure a £200,000 mortgage before reneging on the payments.
Brad then incorporated several companies which, according to The Insolvency Service, enabled her to act as a financial adviser in breach of a disqualification order.
She made a fraudulent £100,000 loan application on behalf of co-conspirator Selvi Civi.
Civi, from Waltham Cross, was also convicted of two counts of fraud by false representation. She received a four-month sentenced, suspended for two years.
The judge said Brad had carried out “sophisticated forgery” and that personal difficulties did not justify the fraud carried out.
Brad was disqualified from being a director for 15 years, the maximum period.
The Insolvency Service said it intended to recover the proceeds of the crimes.
Glenn Wicks, chief investigator for the Insolvency Service, said: "Despite having already served time for similar offences, this did not deter Cindy Brad, and the convicted fraudster continued to apply for substantial loans worth thousands of pounds, using a variety of false documents and fake identities.
"Thanks to the joint work between the Insolvency Service, the police and other government agencies, we were able to uncover Cindy Brad’s duplicitous activities. The courts recognised the severity of her actions and her 3-year sentence should serve as a warning that we will use the full extent of the law to investigate and prosecute fraudsters."
Brad, who has also been known as Shruti Patel, Swati Patel, Churuti Patel and Churuti Brad, has never been an approved person herself.
But in 2020, the FCA banned her, saying she was not a "fit and proper person" to perform regulated activity.
Brad, who had changed her name on at least five occasions, was an appointed representative at an authorised mortgage advice firm between May 2009 and August 2009.
In 2009 she pleaded guilty at Leicester Crown Court to three counts of theft, three counts of obtaining a money transfer by deception and one count of obtaining services by deception.
As a result she was sentenced to 18 months in prison, disqualified as a company director for 10 years and handed a confiscation order for £13,115.98.
Between 2004 and 2006, Patel ran a business in Leicester called Mortgage Deals for You and, according to the FCA, obtained loans and mortgages fraudulently by using the names and data of two of her customers.
In total she stole £169,000 from various banks and institutions.
sally.hickey@ft.com
