Estate agent took out £400,000 loans to fund private prosecution against crooked colleague

An estate agent has won a High Court ruling after a private prosecution against a former colleague cost him £400,000.

Timothy Shinners was jailed for three years for fraud after a private prosecution was bought by Stephen Laycock.

Shinners was accused of stealing tenants’ deposits and taking money from his firm’s bank accounts to fund holidays.

Stephen Laycock was forced to take out loans of £400,000 to fund the prosecution after the police failed to take action.

Mr Laycock was initially told he would see only £150,000 of the £427,909 private court costs.

He has now won a High Court ruling to have the sum reassessed.

Mr Laycock runs Platinum Properties in Horwich, Bolton.

Shinnners, a former business partner, was a director at Platinum between 2009 and 2015.

Shinners, of Rotherwick Avenue, Chorley, failed to pay people’s deposits into a protection scheme as required by regulations, and spent £80,000 of the cash.

When the fraud came to light Mr Laycock, honoured the deposits Shinners should have protected with £30,000 of his own money -an action praised by the judge.

The 31-year-old, who is married with two children, was found guilty of two counts of making false representations to cause loss to another, two of making and supplying articles for use in a fraud, and carrying on the business of company with intent to defraud creditors.

High Court Judge Mr Justice Lane, said a failure to reassess the case could mean that ‘private prosecutions would be in danger of becoming the preserve of those with deep pockets’.

Mr Laycock told The Mail on Sunday: “Having done everything I reasonably could to engage the state to prosecute, a private prosecution was the only option to ensure that justice was done.”

Greater Manchester Police were handed evidence against Shinners but chose not to prosecute him.

Mr Laycock appointed private prosecution specialists Edmonds Marshall McMahon, and in 2017 Shinners was convicted at Preston Crown Court of four counts of fraud and jailed for three years.

Detective Chief Inspector Helen Critchley, of Greater Manchester Police, said: “Due to the volume of fraud cases reported, sadly it isn’t possible for every crime to be investigated due to the time and demand on our resources.

“In September 2015, we received a report of fraud which was assessed by our team. Recognising that there was a limited prospect of GMP securing a successful criminal prosecution due to its limited and already stretched resources, it was decided that this investigation would not be proportionate.”

Dame Vera Baird, the Victims’ Commissioner, said: ‘It is outrageous that a victim of a serious crime is told that the police and prosecution will do nothing to try to get justice. It was obviously a strong case – since the victim took it on himself and won it at court.”