Three agents likely to serve 14 months each in prison after £105,000 fraud involving deposits and rents

Three agents who scammed the public out of over £100,000 in rent and deposits in a prolonged fraud have each been jailed for two years and four months.

Mohammed Rayn Mashuk, 42, Mohammed Ibrahim Ali, 37, and Ahmed Ali Syed, 37, were told that each will have to serve at least half their 28-month long sentences before being released on licence.

They were also banned from being directors for eight years.

The three ran Crestons, named in one online review as “London’s worst letting agent”. They failed to pass on rents to landlords and to refund deposits to tenants, while also failing to protect deposits in authorised schemes.

Untold misery was caused to victims, with one couple’s honeymoon ruined as they battled with Crestons over £8,400 in missing rent. Another family lost £25,000 after using Crestons to let out property.

At Blackfriars Crown Court, the trio were sentenced by Judge Jane Sullivan, who said: “This was deliberate reckless trading conducted over a lengthy period of time.”

Prosecutor Richard Heller said that £105,000 was taken from at least 19 victims who hired Crestons through its offices in Camden, Islington and Spitalfields.

He said a series of “phoenix” company names were used to keep the scam going between 2013 and 2016, so that when one shut down, another identical operation would spring up.

All three men had been convicted last month after a five-week trial. They will now face confiscation proceedings to recover the money.

Cllr Diarmaid Ward, responsible for housing at Islington Council, said: “We welcome this landmark sentence, which is a major victory for private tenants and landlords not just in Islington but across the country and sends the message loud and clear that rogue letting agencies cannot rip off their clients and get away with it.

“In London’s crowded rental market, tenants are spending huge percentages of their income on rent and rental deposits, so it’s vital that they are protected from bad behaviour by shady letting agents.”

Before sentencing, Mashuk and Ali were convicted of one count each of carrying on business for a fraudulent purposes, as officers of Sirs Association, trading as Crestons. They were cleared of the same offence as officers of Sirs London.

Syed was found guilty of one count of carrying on business for a fraudulent purpose as an officer of Sirs London, trading as Crestons. He was cleared of the same offence as an officer of Sirs Associates.

Three agents found guilty of £105,000 scams which defrauded tenants and landlords

 

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4 Comments

  1. Property Poke In The Eye

    Expect more of this as the tenant fee ban comes in.

    Most rogue letting agents will leave the industry taking anything and everything with them.

     

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    1. CountryLass

      Good. Get rid of the lowlifes like this and our industry will hopefully gain the respect it deserves.

      Although I don’t look forward to the fee ban…

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  2. IWONDER36

    Hope the confiscation inventory was carried out before they offloaded anything of value to their cousins?

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  3. Woodentop

    This is what happens when you have an industry that is not proactively regulated. “I can get away with it till I’m caught … so what if I cause misery for people”. These same types of people will continue no matter what regulations come into force, even fee ban! Gun and wall comes to mind.

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