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Yorkshire & LincolnshireYou are in: Inside Out > Yorkshire & Lincolnshire > Property tycoon ![]() Simon Morris Property tycoonIn 2007 Inside Out exclusively revealed how the Leeds-based property tycoon Simon Morris was at the centre of a serious fraud investigation. Today his multi-million-pound property empire has collapsed around him.
Morris sold hundreds of houses at hugely inflated prices to investors all over the country. At least 200 people are now facing bankruptcy after buying properties from Simon Morris. ![]() Morris Properties sold houses to investors Many of the houses and flats Morris sold in Leeds have already been repossessed, and dozens more could soon follow in Sheffield, where it emerged Morris was still selling failing investments in 2008. The properties in question were sold with a guarantee of a full rental income for the first 12 months or two years, but in almost every case investors claim the rent did not cover the mortgage repayments. Morris recommended investors use certain law firms to facilitate the purchase of their properties. Inside Out has discovered that some of the work carried out by these law firms is now also under review as part of the wider police investigation into Simon Morris. In October 2008, two weeks after his businesses went bust, Morris was arrested as part of an investigation into money laundering and conspiracy to defraud. No charges have yet been brought.
last updated: 18/03/2009 at 17:31 You are in: Inside Out > Yorkshire & Lincolnshire > Property tycoon |
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