More details have emerged about the letting agency director sentenced this week after stealing from tenants and landlords.
Via his company Paris Lettings, Peter Bell, 36, ran a franchised outlet of Enfields, in Northampton. This Monday, he was sentenced to jail, while his ex-girlfriend Rebecca Kirton was given a suspended sentence.
Bell had pleaded guilty to 11 charges of theft and four of fraud.
Northamptonshire police have now revealed that Bell defrauded clients to fund a lavish lifestyle which included holidays, meals out, and shopping.
Funds were diverted from the company client account to pay for an expensive rental property, lease cars and foreign holidays including a trip to the Monaco Grand Prix.
Police say that money from the account was also used to cover the cost of company credit cards which were “regularly used to pay for meals at restaurants and shopping trips to Harrods, Zara, Debenhams and Anne Summers”.
Police say: “Although the exact amount of money stolen was disputed by the defence, a figure of £92,000 was accepted at the hearing on Monday.”
Police have also clarified that Bell was sentenced to three years and three months, but that the judge reduced the sentence to two years and two months, to take into account credit given for early admissions made during police interviews. As we reported yesterday, he will serve 26 months.
DC Paul Houghton-Draeger, who led the investigation, said: “This outcome is the result of a lengthy and complex investigation involving a large number of victims who have lost substantial amounts of money through the dishonest actions of someone they had placed their trust in.
“Mr Bell’s behaviour represents a massive betrayal of that trust and it is hoped that this result will go some way to making things right.
“In the meantime, the investigation continues and efforts are ongoing to recover some of that money and compensate those who have lost money through their dealings with Mr Bell and his company.”
So who will compensate these landlords and tenants?
It appears the deposits were held under the “insured scheme” will they? Or if this agent belong to any of the professional bodies will they?
Anyone who thinks mandatory CMP is the answer, then Insurers are aware of this loophole in the deposit schemes (currently £2.3 billion held under this scheme), they would factor in the unknown into any premium.
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Insured scheme should be banned. The consequences of this scheme is to allow the deposit holder to play with the money, that is not theirs … far to great a temptation for some to use it on themselves and snowballs. Many an agent will not like to hear this as they use it to support their business expenses but the saying goes if you can’t afford it, you can’t have it. This is not the first case and will not be the last case with insured scheme deposits. I recently had two applicant landlords (on hold) wanting to come onto my books who are unable to handover the deposits … been used and when I ask when can you provide it ….. how long is a piece of string!
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Anne Summers don’t just sell sex toys you know.
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Maybe it wasn’t Anne Summers the article refers to, wardy.
You wanna get yerself into ‘arrods, matey boy – and ask to see what little vehicles of ecstasy they’ve got awaiting ‘under the counter’!
Nudge, nudge… wink, wink!
;o)
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