Andrew Whitehead, who ran a handful of letting businesses in Southampton including The Flat Agency and Property Vibe, fraudulently took around £230,000 over a four-year period between 2013 and 2017.
Whitehead was found to have forged bank statements to make it appear that deposits were in ring-fenced accounts in order to join trade associations, allowing him to use the money as if it were his own.
Southampton Crown Court was told that he used the money towards mortgages, loans, and car finance.
Whitehead’s firms were eventually expelled from The Property Ombudsman after they did not pay the compensation awarded to those who had successfully complained to the Ombudsman.
Whitehead pleaded guilty to three counts of fraudulently trading, one count of forging a bank statement and four counts of using forged bank statements.
Councillor Jacqui Rayment, cabinet member for place and transport, said: “The actions of the defendant were carried out with a complete disregard for the financial wellbeing of both the landlords and tenants who had entrusted their funds with Mr Whitehead’s businesses.
“This conviction will hopefully give some moral satisfaction to the victims of Mr Whitehead.”
