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Asia House Accounts Under Investigation

Two men arrested as monies go missing

Written by . Published on November 18th 2014.


Asia House Accounts Under Investigation
 

THE management company accounts of Asia House are being investigated by police as part of an on-going fraud investigation.

Two men, aged 47 and 43, were arrested on suspicion of fraud and have been bailed till March 2015.

Confidential understands that bills have not been paid, the reserve fund is empty and a substantial six figure sum cannot be accounted for.

Owners were given the shock news at a hastily called residents meeting in the Princess Street building last month.

Three years ago the financial management of the company was handed over to The Entrusted Group, a company run by one of the resident directors, Stephen Day.

The company had control of the finances from January 2012 but concerns were raised when various contractors complained they were not being paid.

According to records from Companies House Mr Day was removed as a director on 23 September this year. 

Last month’s residents meeting was called by managing agents RMG which has responsibility for the building’s day to day site management and customer service.

Asia HouseAsia House

Given the circumstances RMG could only give a cautious statement when approached by Confidential. It said: "We were recently instructed by the board of Asia House to run their financial affairs following this ongoing police investigation. We are working closely with the directors to support them and to make sure that there is minimum disruption to their on-site property management service."

Greater Manchester Police confirmed that its Fraud Investigation Team has arrested two men in connection with an ongoing investigation into fraudulent activities of a number of limited companies including the Entrusted Group. 

The two men, aged 47 and 43, were arrested on suspicion of fraud and have been bailed till March 2015 pending further enquiries. 

According to its website The Entrusted Group has offices in five locations across the UK with its HQ based at Flint Glass Works in Manchester.

None of the offices have been answering calls and the number in Cambridge said the Group had not been based there for twelve months.

www.entrustedgroup.com

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5 comments so far, continue the conversation, write a comment.

AnonymousNovember 18th 2014.

Perhaps the Fraud Investigation Team should pay a sly visit to the offices of Guinness Northern Counties. It seems like money seems to go 'missing' from their Customers' accounts on a regular basis (India House for instance).

AnonymousNovember 18th 2014.

Hmmmmmmmmmm I was thinking the same did these people 'work for GNC'?????

AnonymousNovember 19th 2014.

This is the tip of the iceberg as far as Stephen Day is concerned......the GMP Fraud Investigation Team are going to very busy investigating this conman

AnonymousNovember 19th 2014.

vile people, hope they get imprisoned and the money gets recovered. also please investigate GNC!

Hero
Jill BurdettNovember 26th 2014.

www.thegazette.co.uk/…/2226186… Creditors meeting today at 11am

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