Friday, June 23, 2006
Timeshare Boss Escapes Jail Term For Scam
Fred Fogg, 61, ran Thurnham Leisure of Aalborg Square until it collapsed with debts of £5 million in 2004 from a long running timeshare scam.
He is now bankrupt and barred from being a company director for 11 years.
Fogg, who formerly lived in Haverbreaks, appeared in court for sentence on Monday.
He and friend Ellis Eastham admitted defrauding finance companies of more than £180,000.
Burnley Crown Court was told Fogg turned to crime to try to save his ailing company. He persuaded Eastham to allow his name and bank account to be used in the timeshare scam. Finance companies, supplied with fake documents, believed new equipment was being supplied to Thurnham.
But the company, which once turned over £10million a year, was broke.
Fogg claimed he fully intended to repay the money which he said he used to try to keep his timeshare scam afloat.
He had not lined his own pockets, he said. Fogg, who now lives in Styal, Cheshire, is back in timeshare, selling holidays to Russians, said defence lawyer Mr Anthony Cross. The ex-Thurnham boss got two years, Eastham from Whalley got nine months. Both terms were suspended for nine months. Neither had previous convictions.
Judge Beverley Lunt told Fogg his conduct merited custody. The timeshare scam was for personal gain.
"But enough has been taken from you so I won't take your liberty," she said.
"I think you need something hanging over you, so you are not tempted to do anything like this again."
Prosecutor Mr James Rea said the fraud was sophisticated with Fogg principal beneficiary. Mr Cross said Fogg was Thurnham's main shareholder. At one stage the company – principal asset Thurnham Hall, near Lancaster – employed 600.
Fogg went into "incredible debt", remortgaging properties and raising about £350,000 from his and his family's assets to try to keep the timeshare company afloat.
Fogg had lost everything. His marriage had broken down, his children had been badly affected and he was a broken man.
Sunterra Europe, based in Caton Road, Lancaster, bought Thurnham Hall and other company assets. There was more bad news for Fogg on Wednesday. Lancaster County Court ordered him to pay £1,801.90 costs incur-red by the Department of Trade and Industry in investigating the timeshare scam of Thurnham.
Fred Fogg, 61, ran Thurnham Leisure of Aalborg Square until it collapsed with debts of £5 million in 2004 from a long running timeshare scam.
He is now bankrupt and barred from being a company director for 11 years.
Fogg, who formerly lived in Haverbreaks, appeared in court for sentence on Monday.
He and friend Ellis Eastham admitted defrauding finance companies of more than £180,000.
Burnley Crown Court was told Fogg turned to crime to try to save his ailing company. He persuaded Eastham to allow his name and bank account to be used in the timeshare scam. Finance companies, supplied with fake documents, believed new equipment was being supplied to Thurnham.
But the company, which once turned over £10million a year, was broke.
Fogg claimed he fully intended to repay the money which he said he used to try to keep his timeshare scam afloat.
He had not lined his own pockets, he said. Fogg, who now lives in Styal, Cheshire, is back in timeshare, selling holidays to Russians, said defence lawyer Mr Anthony Cross. The ex-Thurnham boss got two years, Eastham from Whalley got nine months. Both terms were suspended for nine months. Neither had previous convictions.
Judge Beverley Lunt told Fogg his conduct merited custody. The timeshare scam was for personal gain.
"But enough has been taken from you so I won't take your liberty," she said.
"I think you need something hanging over you, so you are not tempted to do anything like this again."
Prosecutor Mr James Rea said the fraud was sophisticated with Fogg principal beneficiary. Mr Cross said Fogg was Thurnham's main shareholder. At one stage the company – principal asset Thurnham Hall, near Lancaster – employed 600.
Fogg went into "incredible debt", remortgaging properties and raising about £350,000 from his and his family's assets to try to keep the timeshare company afloat.
Fogg had lost everything. His marriage had broken down, his children had been badly affected and he was a broken man.
Sunterra Europe, based in Caton Road, Lancaster, bought Thurnham Hall and other company assets. There was more bad news for Fogg on Wednesday. Lancaster County Court ordered him to pay £1,801.90 costs incur-red by the Department of Trade and Industry in investigating the timeshare scam of Thurnham.
# posted by John @ 4:47 AM 
