Detectives investigating alleged money laundering and fraud at a Brighton-based property management company say money appears to be missing from its frozen accounts.
A 58-year-old man who was arrested in Portsmouth as part of the investigation into PS&B Estate Management has now been released under investigation by the South East Regional Organised Crime Unit (SEROCU),
The unit emailed those who had reported concerns to them over the last few months yesterday to update them – and warned the investigation could take two years or more.
The email said it had obtained court orders to get copies of PS&B’s bank accounts, as well as accounts of associated companies.
PS&B Estate Management is one of several companies which are part of the Blue Bombini Group, including Spratt and Son, Carr and Priddle and Lease X, as well as Hive Company Secretarial Services and Hive Client Services Ltd.
Peter Hewett, 58, is a director of all the group’s companies, which have branches in Brighton, Bognor and Portsmouth.
PS&B’s website once boasted it held more than £7 million in client funds, and managed more than 400 schemes.
It said: “I would like to assure you that we are working closely with the banks involved, including Lloyds and Revolut.
“I am sorry to update that the balances held in these client accounts are below what is expected.
“The situation is also further complicated by the fact that some estates are paying into ‘undesignated’ client accounts, meaning monies from several estates are being paid into the same account.
“Furthermore, our initial early assessment is that the accounts were not being managed as expected. This makes the returning of funds a complex exercise.
“The police will not be involved in this process, but it is hoped that you will receive further communication soon from Lloyds bank as to the next steps over the coming weeks.”
It added: “Rest assured a key objective in our investigation will be to find out what has happened to client funds and recover any monies were possible.”
SEROCU says anyone with any information which could assist the investigation should contact Hampshire and Isle of Wight Constabulary via the non-emergency number, 101, quoting reference 44260266014.
Whats with the X’s all over the pages?
The X’s are sending love from the staff of the site. Wanting to send you lots of kisses.
Means if your owed money you can kiss it goodbye
I think they are normally web banner ad slots, but they have been replaced by lines of Xs, presumably temporarily.
Clearly not very frozen then. Should have been a full asset protection order issues over all company assets from the outset. This is a mistake many Solicitors and banks make. They freeze too late or not enough.
They have 30 grand of ours. The owner Hewett is the 58 year old man arrested. His house was raided. The Lloyd’s and Revolut accounts are empty. The money is long gone. He will do time for this.
They have 30 grand of ours. The owner Hewett is the 58 year old man arrested. His house was raided. The Lloyd’s and Revolut accounts are empty. The money is long gone. He will do time for this.