Shan fiaz the owner of SK Performance Cars has been sentenced to jail for nearly 5 years for keeping his customers in the dark about the sale of their car and leaving them short of almost £500,000.
When the business was doing well he operated it as a legitimate business but once he started facing financial problems he started lying to customers so he could pay his debt and also paid himself a handful wage.
Shan or his employee would contact the owners of performance cars listed on different websites for sale
If the owner would agree Shan would sell the car for them and take a small cut from the profit.
But after Feb 2014 Shan started conning his clients by selling their vehicles and lying to the client that they have not yet sold it, potential buyers were coming for the car or buyer failed to show up at last minute.
Shan sold 28 high performance cars and never paid the owners of the vehicles, Bolton Crown Court was told.
Shan Sold a Nissan GTR, a Porsche Cayenne, a Range Rover Vogue and a Mercedes CLK 500 and never paid the owners.
Prosecuting, Jamie Hamilton, said Shan’s clients were left short of £300,000 but the actual figure may have been around £500,000.
Some clients were lucky enough to get their cars back after police tracked them down but then the other party that had paid for the car would loose money they had paid.
Shan had to wound up his business and was declared bankrupt in Nov 2015.
Some of his clients were left broke and had to take out Loans against their mortgages.
Even though he owed so much money he still paid himself a salary of £215,350.
Shan’s uncle paid £30,000 to people Shan owed money.
Shan’s uncle and his friends have almost raised £200,000 said Michael Wolkind defending Shan.
Michael Wolkind requested that Shan be sentenced at a later date so he gets a chance to pay some of the victims but Judge Graeme Smith said Shan could stay pay his clients while in jail.
The judge said: “You had the use of their money and they did not know you had the use of their money.
“Customers were told anything they needed to be told to prevent them from realising their cars had been sold and you were using the money.”
Shan Fiaz was sentenced to jail for 4 years and 8 months for defrauding his clients and further 2 month sentence for threatening one of his clients.
News Source The Bolton News