North Devon businessman denies defrauding pensioners out of thousands of pounds - North Devon Journal
A former 'Man from the Pru' has denied swindling three of his ex customers who invested in his company and told a jury he thought the business was destined to succeed. Lee Chapman is the brother of the company's founder and managing director Mark Chapman, who changed his plea and admitted fraud at the end of the second week of his trial at Exeter Crown Court. The prosecution say he bought a Range Rover Sport, a Porsche Boxster, and a Mini Cooper for himself or his family out of money invested in the venture. His brother Lee is still on trial and told the jury his role in the company was restricted to organising the outsourcing of production of Lords branded spirits and suncream. The prosecution say he deceived pensioners Gwendoline Snell, Gertrude Hill, and Victoria Ford into investing a total of £112,281. 80 into SPS by telling them it was a business investment. Mark Chapman, aged 51, of Twyford in Berkshire and Merton, near Torrington, Devon, has admitted fraud. His brother Lee, also of Merton, denies five counts of fraud and three of contravening regulations which control financial services. Source: www.northdevonjournal.co.uk
