• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
    • Lottery Results
      • Lotto
      • Set For Life
      • Thunderball
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home Must Reads Broken Britain

Company director who fleeced investors out of £3 million before blowing cash on lavish lifestyle ordered to pay back £1

A crooked company director who splashed out on lavish cars and exotic holidays after fleecing investors out of £3 million has been ordered to pay back – just £1. Alan Chandler, 46,pretended he was a multimillionaire and the son of a High Court judge to swindle cash from a venture capital company using forged documents. […]

Joe Mellor by Joe Mellor
2017-10-26 12:32
in Broken Britain, Must Reads
FacebookTwitterLinkedinEmailWhatsapp

A crooked company director who splashed out on lavish cars and exotic holidays after fleecing investors out of £3 million has been ordered to pay back – just £1.

Alan Chandler, 46,pretended he was a multimillionaire and the son of a High Court judge to swindle cash from a venture capital company using forged documents.

A court he persuaded them to invest in his green energy company Soleil Holdings Ltd by claiming his business was thriving, despite actually being almost bankrupt.

Chandler attained the investment from Fredrik Werner and Agne Svensson, who operated through a Monaco-Based venture capital firm called Marine Life.

However, the two investors lost every penny of their money when the company collapsed due to outstanding debts.

The conman pocketed around £400,000 in total and spent it on luxury holidays for him and his girlfriend, expensive cars and a rented farmhouse.

Chandler, of Melton Mowbray, Leics., was jailed for seven years in July after admitting three counts of fraud at Lincoln Crown Court.

On Monday (22/10) a Proceeds of Crime Hearing was told Chandler had made benefit of £2,954,597 from his crimes.

But the court was told Chandler now had no assets and that only a ‘nominal’ confiscation order of £1 could be made against him.

RelatedPosts

Ghana Drunkards Association goes viral after pressuring govt to lower alcohol prices

Anti-aging drug for dogs set to be available by 2026

Keir Starmer vows to ‘close door on Putin’ with GB Energy

Discount retailer is selling Maltesers Christmas treats for just 1p

Recorder Roger Evans gave Chandler 28 days to pay the £1 sum. He will face an extra day in jail if the money is not paid.

Alan Chandler. A crooked company director who splashed out on lavish cars and exotic holidays after fleecing investors out of £3 million has been ordered to pay back – just £1.

The court heard previously the venture capital company were persuaded to invest more cash on the promise the firm was about to become a success.

Recorder Paul Mann QC, sentencing at the time, said: “If the investors had known the truth, they would have cut their losses.

“As it was they became sucked into making more payments as a result of your assurances.

“They have lost every penny they invested with you. You just fed them lies.

“You created a fictional lifestyle.

“In every sense of the word you have lived your life as a professional conman.

“Your desire to get rich quick is one of the reasons why the business failed.”

Jonathon Dee, prosecuting, said Chandler made a series of false claims to convince the investors to back him.

He claimed to have a portfolio of properties across the UK and Europe, and produced documents showing he had received 150,000 shares worth £5 million after departing his previous company – when he had in fact only earned just £56,000 from 2,000 shares.

Mr Dee said: “”There was a meeting where Mr Werner and Mr Svensson learned the truth. What they learned greatly shocked them.”

https://www.thelondoneconomic.com/must-reads/weird-news/teen-approached-jurors-500-return-not-guilty-verdict-got-words-wrong-asked-find-guilty/25/10/

https://www.thelondoneconomic.com/must-reads/man-engraves-cross-forehead-get-medical-treatment-abuses-muslim-doctors-beliefs/24/10/

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

← Victim scarred by father in acid attack that killed her mum appealing for £35k for operation ← Mum dies after waiting more than five hours for an ambulance
No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

-->