Search

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

39 minutes ago
Roger Cornish is now campaigning for CPR to be taught in London schools

A man who was saved by quick-thinking passers-by has called on Londoners to help fund the training of children in life saving skills at school.

Yesterday, 09:00
Madhia Liaquat, 13, has raised money for Great Ormond Street hostpital by baking, 5k runs, and gets support from local businesses. She is also an ambassador for autism and goes out and about in the local community to raise awareness (photo: Arnaud Stephenson)

A kind-hearted girl who has always tried to help those less fortunate has been nominated for the Recorder/Redbridge Rotary Young Citizen Award.

Fri, 18:06

The A406 between Ilford and Redbridge Roundabout is gridlocked following an earlier accident.

Fri, 16:14

A 56-year-old man who exposed himself in a churchyard has been sentenced to 12 weeks in prison.

Most read news

Protesters have been warned they are banned from setting up camp at the landmark.

John Cantlie features in the new IS video, in which he talks about a recent failed military attack.

From Britain First’s Facebook posts, you would assume they’d won the Rochester by-election. They didn’t, but they’re claiming it anyway.

At 100 years old, this was Ruby Holt’s first visit to the beach – and the first time she saw the ocean.

Digital Edition

Image
Read the Ilford Recorder e-edition today E-edition