Fraudster
Page 9
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ALTHOUGH the Director of Public Prosecutions and the Fraud Squad have stopped investigating an alleged Elm fraud, a number of haulage operators and investors are seeking to lay a bankruptcy order on John Edwin Clark, one time proprietor of Edwin Clark 8( Co. and Mariner Trailers. The Sheffield fraud squad has been investigating the affairs of both companies since the middle of last year.
J. E. Clark began trading in trailer leasing in October 1980 by encouraging investors to buy trailers which he leased. Investors were guaranteed a 20 per cent return on their capital and 100 per cent tax relief on the investment.
In the event, many of the trailers were never manufactured but investors did receive, for a time, a leasing fee.
When the creditors heard of the DPP decision not to prosecute they decided to enter a creditors' petition to recoup some of the massive losses.