Six 'rogue directors' disqualified for misleading investors in property developments in Bradford

Six 'rogue directors' have been disqualified for a total of 54 years after misleading more than 300 people to invest millions of pounds in property developments across the north of England.
By The Newsroom
Published 24th Dec 2018, 08:57 BST
Updated 8th Jan 2019, 17:03 BST
Olicana House in Bradford, where Absolute Living Developments asked buy-to-let investors for completion payments, despite flats not having been finished, an investigation found. Photo: GoogleOlicana House in Bradford, where Absolute Living Developments asked buy-to-let investors for completion payments, despite flats not having been finished, an investigation found. Photo: Google
Olicana House in Bradford, where Absolute Living Developments asked buy-to-let investors for completion payments, despite flats not having been finished, an investigation found. Photo: Google

An international investigation began after Liverpool-based Absolute Living Developments collapsed in 2016, owing at least £12m to buy-to-let investors.

Among the company’s developments were three former office buildings in Bradford which were being turned into flats.

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Now, more than two years later, the Insolvency Service has struck off all six of its directors, saying its investigation had found “various examples of misconduct”, including providing misleading and incomplete information to investors and failing to provide adequate safeguards for their investments.

Kien Cheong Yew, 40, from Kuala Lumpur, Malaysia, has been disqualified for 12 years.

Adrianne Mei Kwan Nyau, 40, from The Wirral, and Chi Yeun Leong, 68, from Bangsar in Malaysia, were both disqualified for nine years, as were Ameerali Bin Abas, 39, and Andrea Nicole Pacquiao Pieter, 30, both of Selangor, Malaysia.

Daniel Mark Harrison, 38, of Kilburn in London, was disqualified for six years.

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Ken Beasley, Official Receiver for the Insolvency Service, said: “This was a complex investigation, considering the amount of money that was invested, not all of the directors were based in the UK and we worked with several other authorities.

“We want to draw attention to these rogue directors so we can alert people about the risks involved when investing, while also warning that we will investigate and tackle those that set out to deliberately rip people off by misrepresenting the investment opportunity on offer.”

An independent insolvency practitioner has been appointed by creditors to investigate where their money went, and this work is ongoing.