A lettings and sales agent has admitted to a court that he tried to cheat an elderly pensioner by buying her flat cheaply in his wife’s name with the hope of re-selling it quickly for a £10,000 profit, and that he failed to disclose a higher offer for the property.
The Wales Online website reports that Stephen John Jones - who until recently ran Conwy Estate Agents - pleaded guilty to fraud by abuse of position by acting against the financial interests of the pensioner who was in a nursing home.
The court heard that the 89 year old owner of a flat in Colwyn Bay was in a nursing home; her flat was advertised in Jones’s agency and was to be sold for £17,000 at the end of 2014.
But it then emerged that Jones was selling the property to his wife. There was the alleged intention to then enter a so-called back-to-back sale, for as much as £27,000.
However, the sales were halted when the police intervened following a tip-off from the local authority.
Jones will be sentenced next month.
You can see the Wales Online report here.