A Staffordshire financier has admitted involvement in a £25
million (€29 million) fraud. Finance broker Paul Cope pleaded
guilty, along with another Staffordshire businessman, Brian
Challiner, to a four and a half year swindle.
A third co-accused, Andrew Oxlade, pleaded not guilty to the
conspiracy and was remanded for trial.
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In a hearing at Stafford Crown Court, Cope and Challiner
admitted a charge of conspiracy to defraud. The charge states that
they conspired to defraud corporations, companies, firms and
persons who entered into leasing agreements with companies
controlled by the defendants.
Lenders were led to believe, by means of false invoices, that
money advanced was for the purchase of furniture and equipment,
when the items did not exist. The fraud was committed between
January 2004 and July 2008.
Cope, whose companies until recently employed a total of 700
people in the Stafford area, is the owner of Kingdom Finance, an
asset finance broker; as well as other finance companies such as
Kingdom Capital, Kingdom Vehicle Finance, Kingdom Healthcare, and
others.
Jason T Hesse
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By GlobalData
