This website is no longer maintained

Home » The North » North West » Greater Manchester Police

Chorley man jailed for almost £1million worth of fraudulent deals

November 17, 2014, 4:50 pm

A man whose fraudulent business deals cost his customers almost £1 million has been jailed.

David Chadwick (born 28/11/1948) of The Willows, Chorley, pleaded guilty to 50 counts of fraud, forgery and counterfeiting at Liverpool Crown Court.

On Friday 14th November 2014 he was jailed for three years and will face a Proceeds of Crime Act hearing on April 7th 2015 to recover the money he conned from his victims.

The court heard how financial difficulties led Chadwick down a slippery slope of fraudulent credit agreements and failing to provide equipment he had been paid for, which culminated in him receiving £909,678.44p in cash for goods that were never received by customers.

Chadwick ran a company called D.A.C. Holding, which provided hi-access machinery such as fork-lift trucks to companies.

Businesses would approach Chadwick to hire new or pre-owned machinery, with many of the deals funded by finance agreements.

Chadwick would then order the vehicles from a third party, who would deliver them to the customer.

Upon receipt of the machinery, the customers would then complete a delivery note, which would be provided to the finance company in order for payments to be released to Chadwick for mediating the deal.

As Chadwick’s financial difficulties started to bite, he began taking orders from customers and failing to fulfil them, forging delivery notes to send to the finance company so he could receive payment without having provided the machinery.

By the time the finance company realised something was awry, Chadwick had received payments totalling more than £909,000 and racked up losses of almost £960,000 for the victim company.

Detective Constable Stuart Donohue said: “Chadwick’s dishonesty was a gross breach of trust against her business partners and a huge financial blow to them in tough economic times.

“Mr Chadwick spent many months building an increasingly complex web of deceit in a bid to keep his business crumbling finances from falling apart.

“Unfortunately this led to further lies and more debt, resulting in him conning a business partner out of an extraordinarily large sum of money.

“I understand that debt and stress has probably caused him to do something desperate that he would never have normally done, but regardless of how bad your finances become it is never an excuse for breaking the law.”

 
Copyright © 2022 Crime And Justice. Sitemap   RSS