A letting agent who stole a reported £700,000 from clients has been jailed for five years and has been described by a judge as “nothing but a conman.”
Media reports say Jeffrey Gadsden, 60, was convicted after defrauding over 100 people who paid his company - Walker Professional Property Services, based in East London - to manage their investment properties.
One client is said to have lost £90,000 from a personal pension plan.
Most of the victims of the crime were owners of one or a small number of units within blocks, who combined to form private companies and hired Gadsden to manage the properties on their behalf.
Walker Professional Property Services went into liquidation in spring 2013; at the time, Letting Agent Today covered the story here.
The firm also appears to have been trading as Charterhouse Professional Property Services, and apparently had debts at the time of up to £754,000; in 2013 it was referred to the police by at least one client along with local East Ham Labour MP Stephen Timms.
Now Snaresbook Crown Court had heard that most of the money was used to pay Gadsden’s debts.
You can see the London Evening Standard coverage of the recent court case here.