Police are prosecuting five men alleged to have tricked the owner of Lind Automotive Group in Norfolk out of almost £12 million.
Graham Dacre sold much of £400m turnover Lind to Inchcape for £71m in 2006, continuing with a newly-opened Porsche dealership in Norwich which ceased trading in 2009, plus motorcycle dealerships in Norwich and Guildford and another Porsche centre in Tonbridge, which continue to trade.
Norwich Crown Court has heard this week how in May 2008 Dacre, a known Christian philanthropist, was allegedly defrauded by Ian Yorkshire, Alan Hunt, Arthur ‘Trevor’ Ford-Batey, David ‘Fraser’ Roberts and Kevin Brennan into investing £11.9m into an account on the understanding that it would generate high yields for charitable projects.
The trial continues, reports the Eastern Daily Press.
As editor, Tim is responsible for the media content, planning and production of AM's multiple channels (AM print and digital magazines, website, social media and contributing to our events planning). He interviews and writes about as many franchised dealer groups and UK divisions of motor manufacturers as possible, to explore the issues facing UK motor retail and understand what solutions dealers and suppliers are using to overcome these.
PCT123 - 14/02/2012 21:18
Hi Tim, your information is not quite correct. Lind still operates a succesful Porsche franchise in Tonbridge, Kent; as well as 3 motorcycle dealerships.