THREE fraudsters behind a £1million-plus East Lancashire buy-to-let scam — where investors were tricked into parting with terraced home for over-inflated prices — could be facing extra jail time.
Former financial advisor Mark Lenton Jopson, 44, from Padiham, has already served 31 months for the conspiracy which snared scores of Irish investors.
Former estate agent Raymond Abramson, 70, from Whitefield, an undischarged bankrupt, received a three-year term and their accomplice John Edwards, 46, was given a suspended prison sentence.
But now prosecutors are pursuing Proceeds of Crime Act applications against the trio at Manchester Crown Court, which could see them facing additional prison time, unless they can account for some or all of their ill-gotten gains.
Jopson, of Quarry Street, originally admitted conspiracy to defraud, as did Abramson, of Hampstead Drive, who also pleaded guilty to being a bankrupt engaging in trade and an undischarged bankrupt being concerned in the management of a company.
Edwards, of Queens Drive, Prestwich, also admitted the conspiracy charge.
The trio made false promises about the level of refurbishment which had been carried out on 21 homes across Burnley and Pendle.
While the prosecution accepted that some repairs had been carried out, and vandalism and thefts had hampered the revamps, the overhaul was acknowledged to be “inadequate”.
Prosecutor Andrew Nuttall QC said at a previous hearing that £1,068,000 had gone through bank accounts controlled by Jopson.
But lawyers said that this represented the “turnover” from the operation rather than the profits actually made.
The hearing, before Judge David Stockdale QC, continues.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article