Agent jailed after foiled ‘back to back sale’ attempt

A rogue letting agent has been jailed following ‘thoroughly dishonest’ behaviour.

Stephen John Jones was sentenced to 10 months behind bars, following an attempted fraudulent transaction.

Mr Jones tried to con an 89 year-old woman, by attempting to by her flat in his wife’s name for £10,000 less than the price he intended to sell it for. As such, Mr Jones was found guilty of an attempted ‘back to back sale.’

Offers

Jones actually received a genuine offer of £27,000 for the flat but did not inform the pensioner, who had expressed her desire to use any funds to pay for her nursing home fees.

The transaction was foiled after the police uncovered the fraud after a tip-off.

Caernarfon Crown Court was told that the 89 year old owner of the flat in Colwyn Bay resided in a nursing home. As a result, her flat was advertised in Mr Jones’s agency to be sold for £17,000 at the end of the year 2014.

However, it became apparent that Mr Jones intended to sell the property to his wife. After this, Jones wanted to arrange a back to back sale, which would see the property sold for £27,000, making him a profit of £10,000.

Agent jailed after foiled ‘back to back sale’ attempt

Charges

In court, Owen Edwards, serving as defender for Mr Jones, said that the accused was a hard-working family man, who built up his business renovating properties. Mr Edwards said, ‘as a result of that work he became an estate agent because there were advantages in having a one stop shop.’[1]

‘He’s entirely aware he’s the author of his own misfortune. It’s a case where others will suffer as a result,’ Edwards added.[1]

Judge Harris-Jenkins told Jones that he had acted in, ‘a thoroughly dishonest manner,’[1] which could have had severe detrimental effects on a vulnerable elderly woman.

[1] http://www.propertyreporter.co.uk/business/thoroughly-dishonest-agent-jailed-for-10-months.html