Words: Ashley Rigg
Published: 3rd August 2010
*Overseas property agent struck off
The acting director of a UK-based overseas property company has been handed a 13-year ban for taking “reservation fees” on a development he had no right to promote.
Keith Graham Morgan, though never formally appointed, acted as the director of Morgan-Gould Properties Ltd (MGP) alongside the official directors, Craig Lee Morgan (his son) and David Leigh Gould.
An investigation by The Insolvency Service which began in April 2007 found that Morgan had charged clients between £3,000 and £4,000 as a “reservation fee” for properties at La Manga, on the Costa Calida in southern Spain.
The company took a total of £286,679 to place “reservations” in 2006 and 2007. So far 13 members of the public have been identified as having been targeted by MGP.
“Misrepresentation”
Although, according to the Ade Daramy, a spokesman for The Insolvency Service, the majority of “buyers” have not received their money back, “the case is one of misrepresentation and so is unlikely to be treated as a criminal matter”.
“Six or seven out of ten”
Each case of “misrepresentation” is judged according to its seriousness by The Insolvency Service. “This would be a six or seven out of ten” says Daramy. “If every case of misrepresentation was treated as a criminal matter, the prisons would be overflowing”.
The most serious cases involve “a lot more money, more people and go on for longer”.
Mr Morgan will be unable to form or company in the UK or serve as a director for a period of 13 years.
Source: Global edge
User Comments
I must add a personal note that I have nothing whatsoever to do with this person. With such a similar name it is frightening. Working in the same field for some 11 years and even the same area as this person I would not doubt that my name has been thought of as too similar! Keith Gordon Merton.
Keith Merton,
Salu-tions.com
Glad to see things like this being picked up by the authorities, however more needs to be done to deal with even the smallest reservations that don't make it to where the customers think they are being sent IMHO.
Richard Cash,
invest in Brazil