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Tuesday, April 26, 2016

Letting agent rips off 17 landlords

A letting agent has been sentenced to ten months in prison and banned from being a director of a company for 7 years by Kingston Crown Court.

Chandra Patel had ran Giraffe Residential in New Malden when he suddenly closed the agency owing a total of £27,000 to seventeen landlords.

Mr Patel had used money paid as security deposits and rent to pay off other business debts as the agency fell into financial difficulties between February 2014 and October 2014.

Judge Timothy Lamb summed up:

“He traded well until 2014, when things took a turn for the worst. The defendant decided to help himself to the monies which he held in trust. I take into account the defendant’s family circumstances, I take into account that he is of previous good character. However, the defendant became part of a system of retail letting which was created in order to instill trust and confidence. He was plainly not fit to play a part in the system. He abused his position.”

Following the closure of the agency, landlords were forced to pay back their tenants deposits using their own money.

Mr Patel is looking to appeal the sentence.

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