September 3, 2007

Finance broker stole £475,000

He was based in a virtual office in Leatherhead, but that did not stop Kevin Redbond from stealing nearly a half million pounds by using his knowledge of the auto sales industry.

By taking down the registration numbers on unsuspecting car owners, he was then able to arrange finance for these vehicles and pocket the money in his capacity of being a middleman between car dealers and finance companies. These businesses trusted him that the paperwork and applications were correct at the time?

He was found guilty of all charges, which also included taking the deposits for cars and paying them into his own bank account.

Mr Redbond had worked in the industry for a number of years, which allowed him to build up contacts and learn the business inside out, which help him to find ways of committing the frauds in the first place. He is due to be sentenced next month.

Source [IC Surrey]

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