A man is in custody for questioning over fraud and money laundering connected to a property management company, police said today.
The 58-year-old from Portsmouth was arrested today on suspicion of fraud by abuse of position, fraudulent trading and money laundering and theft.
The announcement comes after clients of Brighton and Portsmouth-based PS&B Estate Management complained to police.
Hundreds of flat owners have been worried about millions of service charge payments and other money believed to be held by the company in bank accounts which have been frozen since February or March.
The company’s sole director, Peter Hewett, 58, told staff earlier this month he was appointing administrators.
Since then, Brighton and Hove News understands no further details have been shared with staff, leaving them unable to lodge claims with the government’s statutory redundancy scheme.
Hewett is also director of several other companies connected to PS&B and its parent company, Blue Bombini Ltd. No administrators have been appointed for those since he emailed staff.
In a statement released this afternoon, the South East Regional Organised Crime Unit (SEROCU) said: “The arrest is in connection with an investigation relating to funds linked to a Hampshire-based property management agency.
“Search activity took place today at business premises and at a residential premises, both in Portsmouth.
“SEROCU is working closely with a number of partner agencies and financial institutions. Enquiries are ongoing.
“Anyone who has any information which could assist the investigation, should contact Hampshire and Isle of Wight Constabulary via the non-emergency number, 101, quoting reference 44260266014.”
Thank you Jo
This knocks the bottom out of leaseholders’ belief that their funds are protected by being ‘in trust’
The question is – can you place your trust in a trust account ?
Not any more.
S156 of the 2002 Landlord and Tenant Act which insisted on separation of funds in leaseholders’ Trust Accounts – on the statute book since 2002 needs to be brought in now.
Please cotact Shula Rich – Chair Brighton Leaseholders’ Association to be put in touch with others affected by this catastrophe.