month for a fraud which included bogus lease transactions that
originated from Lombard.
The two had controlled Vodka Bar Management Ltd, running a chain
of bars and clubs under names including Babushka and Nylon &
Style, in London, Manchester, Glasgow and Bristol.
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At Southwark Crown Court on 11 September, Gary Hibberd was
jailed for six years and Timothy Allen for 42 months.
They had pleaded guilty to two charges of conspiracy to defraud
in the period between 2002 and 2004.
The fraud was committed against Royal Bank of Scotland (RBS)
group, which suffered a total loss of £2.5 million (€3.14
million).
This included both bank overdraft advances, and leasing and hire
purchase finance from the Lombard subsidiary, all fraudulently
obtained and used to fund the fraudsters’ lifestyles.
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By GlobalDataThe asset finance was ostensibly to fund various equipment items
which in reality did not exist.
VBM eventually collapsed, and RBS made no recoveries in the
insolvency.
In sentencing, Judge Michael Gledhill told the defendants: “You
used deceit, lies, forgery and eloquent persuasion to defraud [RBS
and Lombard]. They were completely taken in… A clear message of
deterrence must be sent from this court that… fraud will be
punished.”
Andy Thompson
