Man convicted of fraud offences - Milton Keynes

05/03/2015

A man was yesterday, Wednesday, 04 March 2015, convicted in his absence of fraud offences totalling more than £775,000 after a six week trial at Aylesbury Crown Court.

John Clifton Davies, aged 53, of Dean Forest Way, Broughton, Milton Keynes, was found guilty of 12 counts of fraud by breach of trust; 11 by a unanimous verdict and one by a majority verdict.

Davies failed to attend his trial and a warrant for his arrest has been issued.

The charges relate to Davies' dealings with nine different companies where he gained in excess of £775,000.  He used the money to buy himself a new house furnished with the latest cinema system and luxury kitchen. He also spent over £70,000 on a new Range Rover, designer clothes and foreign holidays to Barbados and Las Vegas.

Davies claimed to be an insolvency and business advisor despite not being licensed. Between 2007 and 2013 he targeted distressed companies, claiming that he could assist in restructuring their debts.

Davies gained the victims' trust and often advised companies that they should go into liquidation or administration.  However, he delayed implementing such advice so that he could gain control of companies' remaining assets and money due to the company creditors, which he used to fund his own lavish lifestyle.

The result of his actions meant numerous people lost their jobs, livelihoods and companies.

The offences occurred in Theale in Berkshire, Kent, and Northamptonshire, with a total loss to victims of £775,930.20.

Davies is due to be sentenced, in his absence, at Aylesbury Crown Court on Tuesday, 31 March 2015.