Twin brothers who carried out a £1.6m property scam have been jailed for more than four years.
Paul and Peter Aspden, 54, who are originally from the Fylde coast, but moved to the Cape Verde Islands, admitted charges under the Trade Descriptions Act at Leeds Crown Court.
The twins were co-directors of a company called Independent Property Consultants Limited (IPC) which sold overseas property developments to investors.
The court heard Paul Aspden held the majority share of the company at 75 per cent with Peter holding the balance.
Andrew Haslam, prosecuting, explained the pair sold overseas developments to investors in Bulgaria and later Cape Verde.
The Aspdens claimed to be offering properties in four Bulgarian developments and took more than £620,000 from clients.
The Insolvency Service investigation — launched after complaints from clients – discovered those homes never materialised.
Clients had also handed over £1m for apartments in the Sal Vista resort development in Cape Verde which they never got their hands on.
Paul Aspden pleaded guilty to fraudulent trading in Bulgaria and offered an alternative plea of making a false and misleading statement as to services, contrary to section 14 of the Trade Descriptions Act 1968 in respect of investments in Cape Verde, this was accepted.
Peter Aspden offered a plea of making a false and misleading statement as to services, contrary to section 14 of the Trade Descriptions Act 1968 in respect of Cape Verde only. This was accepted.
The fraudulent trading offence in respect of Bulgaria was ordered to lie on the file.
Paul Aspden was sentenced to 42 months in prison and Peter Aspden was sentenced to 10 months in prison.
For the full story, see tomorrow’s Gazette.