Nicholas Constable Weybridge – £900,000 Fraud & Embezzlement
Nicholas Constable Weybridge is a former director of a property agency who had diverted £900,000 of rental income into his personal bank account instead of sending it in the agency’s account.
He has received an 8-year ban for these illegal activities.Nicholas was the director of Xenex Developments, a property agency, but failed disqualification in 2017.
This prevented him from directly or indirectly getting involved in the promotion or management of a company for this duration.
However, he appeared at Guildford Magistrates’ Court in 2021 for sentencing after he pleaded guilty to two counts of contravening that order.
He told the court that he violated the order by being a member of First Mezzanine Film Company and Second Mezzanine Film Company.
“Nicholas Constable Weybridge Stole £900,000 From His Property Agency Before It Went Bankrupt”
Also, he pleaded guilty to failing to handle the accounting records of Xenex Developments from October 2014 to November 2015.
His lawyers told the court that he only made technical breaches as he was bound to those partnerships because those companies were under investigation by HMRC.
It’s worth noting that Nicholas Constable Weybridge was the director of Xenex Developments when it went into administration. It owed over £6.9 million to creditors, according to the Insolvency Service.
An investigation revealed that he had diverted the firm’s rental income into his personal bank account and the account of a related firm. While the prosecutors wanted to award the costs of £5000 to Nicholas Constable Weybridge, he requested the court to consider his position.
The magistrate accepted that the breaches were technical with “little malice”. She sentenced him to a community order for all offenses.
Also, she ordered him to pay £2,585 in fees and surcharge. He would need to perform 180 hours of unpaid work as well.
You should be wary of such fraudsters. THere are plenty of similar scammers operating in the industry. For example, Ashley Nankervis is a similar real estate agent who defrauded clients.
On the other hand, you also have real estate developers like David Martin Terra Group who are too negligent and careless to care about their customers’ lives.
Beware.
