A former director of a property agency in Surrey has been ordered to carry out unpaid work for breaching a disqualification order, a court has heard.
Nicholas Constable, 63 and from Weybridge, was formerly the director of property agency Xenex Developments but was disqualified for eight years in 2017 for failing to ensure the company dealt with its rental income in the correct manner or maintaining adequate accounting records.
Constable was director of Xenex Developments when it went into administration on November 17, 2015, with an estimated deficiency of £6,929,723, according to The Insolvency Service.
An investigation later found that Constable diverted almost £900,000 of rental income into his personal bank account and that of a connected company in his former director role at the property agency.
The disqualification banned him from directly or indirectly becoming involved in the promotion, formation or management of a company for the duration of the term.
However, Constable appeared at Guildford Magistrates’ Court last week for sentencing after pleading guilty to two counts of contravening the disqualification order.
Constable admitted that between August 7, 2017, and November 27, 2019, he breached the order by being a member of limited liability partnerships First Mezzanine Film Company and Second Mezzanine Film Company.
On June 28 of this year he also pleaded guilty to failing to ensure Xenex Developments kept adequate accounting records between October 31, 2014, and November 17, 2015.
Constable’s solicitor, Mr Sharp of O’Neill, Wright & Nash solicitors, told the court: “These are technical breaches, he was bound to these two partnerships because they are being investigated by HMRC. He cannot leave, even now. It is sad and unfortunate, but he has pleaded guilty.”
The court heard how Constable has registered bankrupt.
Mr Sharp added: “He is working in building management on a very modest salary. Simply put, the impact of the liquidation of Xenex has been devastating on him and his entire family.”
Guildford magistrate sentenced Constable to a community order for all three offences.
He must carry out 180 hours of unpaid work and pay a total reduced amount of £2,585 in surcharge and court fees.
Constable diverted £900k of clients rents into his personal bank account. After being convicted he said “the liquidation of Xenex has been devastating on him and his family.”
There used to be a word for a person who took money and possessions without consent from their owner. We now call it “diverting money”!
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I genuinely couldn’t believe that comment from his solicitor! Are we supposed to care about this crook who stole so much of his clients money? What a *******.
“Of the total diverted rental income, Constable has failed to provide accounting records which would verify whether £679,063 had ever been repaid or used for the benefit of the company’s creditors.”
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Constable, you’re nicked !
That has to be an alias, surely. 🙂
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