Barkingside fraudster jailed after admitting to £35m land scam

16:23 08 March 2013

A Barkingside fraudster has been jailed after conning investors out of £35million through a land banking scam.

Working under the guise of gym membership salesmen from a Canary Wharf headquarters, he was part of a gang that duped more than 400 people into buying worthless plots of land between 2005 and 2010.

Defendants Daniel Webster, 29, Stephen Allan, 38 and Steven Ronald Percival, 29 – all of Bromley - were sentenced at Southwark Crown Court in one of the largest criminal fraud cases ever brought before the courts by a local authority.

Christopher Demetriou, 30. of Cranbourne Gardens, pleaded guilty to conspiracy to defraud investors before the seven week trial began.

He was sentenced to six years and four months in prison. Webster and Percival were handed six-and-a-half year jail terms and Allan was sentenced for seven-and-a-half years.

Det Insp Simon Pollock of the Metropolitan Police said: “Innocent investors were exploited for the personal financial gain of those convicted.

“We will now be using our powers under the Proceeds of Crime Act to ensure they are stripped of their criminal benefit and victims are compensated as far as possible.”

Demetriou was also handed a 10 year disqualification from being a company director, with Webster, Allan and Percival given eight year bans.

Latest News Stories

Yesterday, 18:50
Doris Greenstein in the Recorder in 2008. She was one of the original founders of the Redbridge Pensioners Forum and sadly passed away on Saturday. Photo: Jules Dann

One of the founding and most influential members of the Redbridge Pensioners Forum has died aged 93.

Yesterday, 14:36
Specialist care provider Health 1000 holding a networking lunch at the Redbridge Institute of Adult Education.
Dr Jagan John speaking

A specialist healthcare provider held a networking lunch for its service users on Thursday.

Yesterday, 13:07
Ilford South MP Mike Gapes is currently in hospital after having emergency surgery over the weekend.

Mike Gapes has been taken to hospital after suffering “chest pains” on Saturday, and remains there having undergone emergency surgery.

Yesterday, 13:02
Junior doctors have voted in favour of strike action (Pic:PA)

Junior doctors voted in favour of strike action over contract changes proposed by the Health Secretary.

Most read news


Nike Trainers

Nike’s motto is ‘to bring inspiration and innovation to every athlete in the world.’ With this in mind it’s no surprise why Nike is the preferred training gear for most A-list athletes. Get an extra boost in your run or height in your jump with £500 to spend on Nike trainers.

MAC Makeup

MAC are renowned for their flawless, fabulous make up that is used worldwide by the stars. You too can have the chance to have the perfect makeup to suit your needs with £1,000 to spend on all the glam goodies you like!

Digital Edition

Read the Ilford Recorder e-edition today E-edition
Family Notices 24

Local business directory

Our trusted business finder