Margos face fraud charges
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THREE MEN, including Malcolm Margo and Alan Margo, face charges alleging fraudulent trading and obtaining more than .1.1400,(00 by deception and theft in committal proceedings which began in Brighton last week.
Malcolm Margo, of Shirley Drive, Hove, is accused of six offences. Alan Margo is jointly charged on four of the counts, and Ronald Dalton of Turpington Lane, Bromley, Kent, is jointly charged on three counts.
All three are accused under the Companies Act of con spiracy to deprive creditors of the opportunity of receiving payments and were bailed.
It is alleged that Maroncr (Coaches) Ltd, Jacksons Coaches (Beith) Ltd, A and M Tweedie's Coaches Ltd, Redcar Services (Norwich) Ltd, Redcastle Ltd, AC Coaches Ltd, AC Coaches (Brighton) Ltd, Glen Valley Coaches Ltd, lanmob Ltd, KT Transport Ltd, KT Workshops Ltd, Taurus Trad ing Company Ltd, Seaview Coaches Ltd and Westpicr Coach and Bus Company Ltd were stripped of assets and left with debts and no income.
They arc also jointly accused of obtaining money by deception from banks and finance houses on behalf of the same companies.
Malcolm and Alan Margo are jointly charged with dis honestly obtaining £186,405 from the Swiss Banque Du Rhone by deception by falsely representing that a company in their control had signed a contract of sale on premises said to he worth 1550,000, producing spurious documents in support of that claim, and with dishonestly obtaining 1173,548 by deccpdon by claiming that a coach company under their control was able to meet payments on a leasing agreement.
Malcolm Margo is also accused of stealing 125,296.27 from Redcar Services (Norwich) Ltd and with dis honestly obtaining 5,785 from American Express by deception.