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Property Developer Sentenced to Prison for £295,000 Invoice Fraud

Published by Chirag
Published Date: August 7, 2023
Categories: Property Tax News

A property developer has been handed a three-year prison sentence for orchestrating an invoice fraud that swindled a finance company out of £295,000. Allan Livesey, hailing from the picturesque Lake District, was convicted this week for masterminding a scheme wherein he manipulated invoices and bank statements to deceitfully secure funds.

Deceptive Promises Unravelled: Property Developer's Three-Year Prison Sentence for Elaborate Invoice Fraud

Livesey's misdeeds began when he convinced a finance company to lend him money for purchasing land to construct houses, offering them a promise of sharing half the eventual profits from the property sales. This seemingly lucrative proposition concealed a web of deception that spanned from June 2018 to September 2019.

invoice fraud

In a calculated series of actions, Livesey fabricated multiple invoices, duping the finance company into unwittingly transferring the substantial sum to his account. The ambitious developer approached the finance company with the aim of securing a substantial £1.9 million loan earmarked for buying land in Lancashire, intended for the construction of five residential properties.

Once the loan was secured, construction commenced in September 2018, with Livesey receiving legitimate invoices from builders. However, his fraudulent activities came to light when the finance company discovered manipulated and fictitious invoices that Livesey had presented. His crafty alterations were not limited to invoices; he also manipulated bank statements to falsely indicate funds had been paid to contractors when, in reality, the money found its way into his personal account.

Justice Served: Fraudulent Property Developer Receives Three-Year Sentence and Director Disqualification

The repercussions of Livesey's actions have been decisive. Following a court appearance at Carlisle Crown Court, he was met with a prison sentence of three years and one month, effectively ending his freedom on 2 August 2023. Furthermore, he has been banned from holding the position of a company director for a decade, underscoring the gravity of his actions.

invoice fraud

Detective Constable Claire Keyes, representing the economic crime unit of Cumbria Police, emphasised the deliberate nature of Livesey's fraudulent activities. She remarked that Livesey had abused the trust placed in him by the finance company, exploiting his working relationship to perpetrate the scheme from its earliest stages.

This sentencing stands as a stern cautionary tale to anyone contemplating fraudulent activities, serving as a stark reminder that the consequences of such actions are both legally severe and reputationally damaging.

Chirag
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