Latest news with #Prestbury
The Sun
6 days ago
- Business
- The Sun
Dragon's Den star & gold medal-winning athlete took out £100k in fraud loans despite £75k show investment
A DRAGON'S Den winner and former Team GB gold medallist fraudulently used Covid loans to buy himself a £1.8million mansion. Rick Beardsell illegally pocketed £100,000 worth of taxpayers cash to purchase his home - despite receiving a £75,000 investment during his stint on the BBC show. 6 6 6 The 46-year-old fiddled two Covid Bounce Back loans to buy himself five-bed Holly House in the exclusive village of Prestbury, Cheshire. Dad-of-two Beardsell was only entitled to apply for one loan worth £50,000, but fraudulently applied for two and greatly exaggerated his annual turnover by up to 23 times. It came after the world champion sprinter had successfully secured investments from TV Dragons Tej Lalvani and Deborah Meaden for his successful protein shake bottle business, ShakeSphere. Chester Crown Court heard he applied for the loan to prop up his other company, Sports Creative Ltd, but none of the money went towards the sportswear business. Prosecutor Geoff Whealan told the court Beardsell made the fraudulent applications to HSBC in December 2020 and then to NatWest in January 2021. He said: ''The defendant stated on the HSBC form that the turnover of Sports Creative was £485,000 and on the NatWest form said it was £320,000. "But unaudited financial statements showed turnover for the year end February 2020 was £20,622. ''The turnover was clearly exaggerated to secure the maximum bounce back loan. "Subsequent transactions showed the bounce back loan funds were not being used for the economic benefit or business purposes of Sports Creative at this time.'' The money arrived in Sports Creative's account in January 2021, but then almost £400,000 was transferred to Beardsell's personal Santander account in the space of six months. Then £431,160.80, including the remaining bounce back loan funds, was transferred to a firm of solicitors for the purchase of Holly House he bought with his wife Ezster. Mr Whelan added: ''In effect the bounce back loan funds had been used for this purchase. "It can be inferred from the defendant's conduct that it was his intention to use the bounce back loans for this purpose at the time he made the application for it." Beardsell, who won two World Records for sprinting, faced three years in jail after he admitted two charges of fraud. In October 2024, he attended an interview under caution at the Insolvency Services offices. In a statement he said: ''The guidance pertaining to Bounce Back Loans indicated that the proceeds of such loans may be utilised for any purpose that yields a direct benefit to the company. ''At that juncture, I sought professional advice and was advised that such purposes include, but are not limited to, the coverage of overhead expenses or outstanding liabilities, as well as the investment in company assets or property. "The funds that were transferred to my personal account constituted a director's loan and other economical overheads for the business.'' Mitigating, his counsel Nichola Cafferkey explained that the loans had been repaid in full to the banks. She said: ''The loss of his good character is of some significance in respect of a man who has dedicated his life to his family, his professional entities and also his sporting endeavours. "These offences were out of character and were committed four years ago. "He has taken responsibility and repaid the money back. He knows that it's his own fault. "He has brought shame on his family and brought shame on himself. ''His wife is also his business partner and concerns that they have had about the ability to provide financially for their young children have been significant." The court also heard that Beardsell had suffered a series of medical issues both before and after securing the loans. Ms Cafferkey continued: "A year prior to the submission of the first loan application, the defendant was diagnosed with an aggressive form of testicular cancer and required surgery and extensive chemotherapy. "The chemotherapy was successful but led to some significant side effects. ''One of those being vertigo, of which he had a severe episode which required hospitalisation and thereafter there are ongoing long-term issues as a result of that. 6 6 "The investigations brought on by the defendant's own actions has had an impact on his family which has led to a situation where he has been experiencing significant stress over the past few years. "On top of that there are ongoing knee pains associated with his athletic success at national and international level. "He has been running a business for many years without issue and it is plain he is extremely remorseful and regretful for his actions. "The impact on his wife's physical health in terms of stress and strain has been significant. There has been significant weight loss and insomnia. "This will be the only time that Richard Beardsell appears before the court." Beardsell was sentenced to 18 months in prison, suspended for two years. He was also ordered to complete 250 hours of unpaid work and pay costs of £11,142.70. Judge Simon Berkson told Beardsell: "You fraudulently lied and lied again in your applications for these loans. "They were supposed to be for use in keeping your business running but the money was used for your own personal needs and the needs of your family. "This is not a victimless crime. The government was trying to help struggling businesses at the time of national crisis. "People were in lock down, people were dying and people were very ill at the time when people required their public services. "You used fraudulently obtained public funds for your own use, depriving honest people of the scheme's funds when the country was in crisis. "You are a generally successful man both in business and in sports, particularly your involvement with athletics. "You continue to run your business and it was on the TV programme Dragons' Den. "You are a married person with two children and they are young children. You have survived an aggressive form of cancer. "I have concluded that an immediate custodial sentence would have a significant harmful impact on your wife and children.'' 6
Telegraph
6 days ago
- Business
- Telegraph
Dragons' Den entrepreneur used Covid business loans to buy £1.8m mansion
A business owner who secured investment on BBC's Dragons' Den illegally pocketed two Covid-19 business loans to buy a £1.8m mansion. Rick Beardsell, 46, who is also a world sprinting champion, fraudulently used £100,000 of taxpayers' cash to finance the purchase of a five-bedroom property in Prestbury, Cheshire. Beardsell, who secured a £75,000 investment from Dragons Tej Lalvani and Deborah Meaden for his protein shake bottle business ShakeSphere in 2017, had applied for the loans for his other business, Sports Creative, which sold sportswear, but put none of the money towards it. Under the loan rules, Beardsell was only entitled to one Bounce Back loan of a maximum £50,000. However, he fraudulently applied for two and inflated his annual turnover by up to 23 times. At Chester Crown Court, Beardsell - who won seven gold medals for GB in World Masters Athletics Championships - was sentenced to 18 months in prison, suspended for two years, for two charges of fraud. Beardsell had appeared on Dragons' Den to get investment for his shaker bottle manufacture firm ShakeSphere. He claimed the support of Meaden and Lalvani subsequently helped him get sales of over 1 million shakers worldwide. Geoff Whealan, prosecuting, said Beardsell made fraudulent applications for Bounce Back Loans to HSBC in December 2020 and then to the NatWest in January 2021 for Sports Creative. He said: ''The defendant stated on the HSBC form that the turnover of Sports Creative was £485,000 and on the NatWest form said it was £320,000 - but unaudited financial statements showed turnover for the year end February 2020 was £20,622. The court heard the HSBC and NatWest money landed in Sports Creative's account in January 2021 but was then transferred to other bank accounts, including Beardsell's personal account. In September 2021, a sum of £431,160.80, which included the remaining bounce back loan funds, was transferred to a firm of solicitors for the purchase of a house. Mr Whelan said he had 'in effect' used the loan for the house purchase and added it was Beardsell's 'intention to use the bounce back loans for this purpose at the time he made the application for it'. Beardsell claimed he was advised the loan could be used for 'the coverage of overhead expenses or outstanding liabilities, as well as the investment in company assets or property' and that the funds transferred to his personal account 'constituted a director's loan'. His counsel Nichola Cafferkey said that a year prior to his loan application, Beardsell was diagnosed with an aggressive form of testicular cancer and that the offences were 'out of character'. She added: 'He has taken responsibility and repaid the money back. He knows that it's his own fault. He has brought shame on his family and brought shame on himself. Beardsell was also ordered to complete 250 hours of unpaid work and paid prosecution costs of £11,142.70. SportsCreative was wound up in 2022 but ShakeSphere which he runs with his wife is still operating successfully. Sentencing Judge Simon Berkson told him: ''You fraudulently lied and lied again in your applications for these loans. He said it was not a 'victimless crime', adding: 'People were in lock down, people were dying and people were very ill at the time when people required their public services. You used fraudulently obtained public funds for your own use, depriving honest people of the scheme's funds when the country was in crisis.'
Daily Mail
6 days ago
- Business
- Daily Mail
Sprint champion who won £75,000 on Dragons' Den illegally pocketed Covid bounceback loans to buy himself a £1.8m mansion
A world sprinting champion who won £75,000 on Dragons' Den illegally pocketed two Covid Bounce Back business loans to buy himself a £1.8m mansion. Rick Beardsell, 46, was only entitled to one Covid Bounce Back loan of a maximum £50,000 but he fraudulently applied for two. This was despite him receiving a £75,000 investment from TV Dragons Tej Lalvani and Deborah Meaden for his successful protein shake bottle business. The father of two, who won a total of seven gold medals for GB in World Masters Athletics Championships, was supposed to use the Covid loans to prop up his other firm which sells sportswear. But instead, he used it to help finance the purchase of an impressive five-bedroom property called Holly House in the exclusive village of Prestbury, Cheshire. Under the Government's application rules, Beardsell was only permitted to one bounce back loan but he applied for two - then vastly inflated his annual turnover by up to 23 times. None of the money he fiddled went on the company. At Chester Crown Court, Beardsell faced up to three years in jail under sentencing guidelines after he admitted two charges of fraud. However, he was sentenced to 18 months in prison suspended for two years after prosecutors told a judge he had since paid all the money back. Beardsell, who won two World Records for sprinting and holds the fastest record for a 400-metre sprint for a 36-year-old at the 2015 WMA, had appeared on Dragons' Den to get investment for his shaker bottle manufacture firm ShakeSphere in return for 30 per cent equity. He claimed the support of Meaden and Lalvani subsequently helped him get sales of over 1 million shakers worldwide across the following two years. But Geoff Whealan prosecuting for the Insolvency Service said Beardsell made fraudulent applications for bounce back loans to HSBC in December 2020 and then to the NatWest in January 2021 in respect of his other firm Sports Creative Ltd. 'The defendant stated on the HSBC form that the turnover of Sports Creative was £485,000 and on the NatWest form said it was £320,000 - but unaudited financial statements showed turnover for the year end February 2020 was £20,622,' he said. 'The turnover was clearly exaggerated to secure the maximum bounce back loan and subsequent transactions showed the bounce back loan funds were not being used for the economic benefit or business purposes of Sports Creative at this time.' The court heard the HSBC and NatWest monies landed in Sports Creative's account in January 2021 but was then transferred to other bank accounts - including Beardsell's personal Santander account. Over a six-month period there were 179 debits from Santander totalling £5,698.15 for non-business purposes and credits of £399,116.63. He received a £75,000 investment from TV Dragons Tej Lalvani and Deborah Meaden (pictured) for his shaker bottle manufacture firm ShakeSphere in return for 30 per cent equity Then in September 2021, he transferred £431,160.80, which included the remaining bounce back loan funds, to a firm of solicitors for the purchase of Holly House he bought with his fitness fanatic wife Eszter. Mr Whelan added: 'In effect the bounce back loan funds had been used for this purchase and it can be inferred from the defendant's conduct that it was his intention to use the bounce back loans for this purpose at the time he made the application for it. 'But in relation to repayment, the defendant has repaid the bounce back loans to each bank.' Beardsell attended an interview under caution at offices of the Insolvency Service in October 2024. In a statement, he said: 'The guidance pertaining to bounce back loans indicated that the proceeds of such loans may be utilized for any purpose that yields a direct benefit to the company. 'At that juncture, I sought professional advice and was advised that such purposes include, but are not limited to, the coverage of overhead expenses or outstanding liabilities, as well as the investment in company assets or property. 'The funds that were transferred to my personal account constituted a director's loan and other economical overheads for the business.' His counsel Nichola Cafferkey said in mitigation: 'The loss of his good character is of some significance in respect of a man who has dedicated his life to his family, his professional entities and also his sporting endeavours. 'A year prior to the submission of the first loan application, the defendant was diagnosed with an aggressive form of testicular cancer and required surgery and extensive chemotherapy. The chemotherapy was successful but led to some significant side effects. 'One of those being vertigo, of which he had a severe episode which required hospitalisation and thereafter there are ongoing long-term issues as a result of that. 'The investigations brought on by the defendant's own actions has had an impact on his family which has led to a situation where he has been experiencing significant stress over the past few years. 'On top of that there are ongoing knee pains associated with his athletic success at national and international level. He has been running a business for many years without issue and it is plain e is extremely remorseful and regretful for his actions. 'These offences were out of character and were committed four years ago. He has taken responsibility and repaid the money back. He knows that it's his own fault. He has brought shame on his family and brought shame on himself. 'His wife is also his business partner and concerns that they have had about the ability to provide financially for their young children have been significant. 'The impact on his wife's physical health in terms of stress and strain has been significant. There has been significant weight loss and insomnia.' Beardsell was also ordered to complete 250 hours of unpaid work and pays prosecution costs of £11,142.70. SportsCreative was wound up in 2022 but ShakeSphere, which he runs Eszter, is still operating successfully. Beardsell was sentenced to 18 months in prison suspended for two years after prosecutors told a judge he had since paid all the money back Sentencing Judge Simon Berkson told him: 'You fraudulently lied and lied again in your applications for these loans. 'They were supposed to be for use in keeping your business running but the money was used for your own personal needs and the needs of your family. 'This is not a victimless crime. The government was trying to help struggling businesses at the time of national crisis. 'People were in lockdown, people were dying and people were very ill at the time when people required their public services. 'You used fraudulently obtained public funds for your own use, depriving honest people of the scheme's funds when the country was in crisis. 'You are a generally successful man both in business and in sports, particularly your involvement with athletics. You continue to run your business and it was on the TV programme Dragons' Den. 'You are a married person with two children and they are young children. You have survived an aggressive form of cancer. 'I have concluded that an immediate custodial sentence would have a significant harmful impact on your wife and children.'
BBC News
03-07-2025
- Automotive
- BBC News
Prestbury car park back on market after controversial sale
A former council car park is back on the market, for more than double the price it was sold for, as a plot with planning permission for a 1,000 people signed a petition to keep Idsall Drive car park in Prestbury in 2024 but Cheltenham Borough Council decided to sell it for £282,500 because it was "surplus to requirements" and cost £4,000 a year to Gillman has secured planning permission for a five-bedroom self-build property on the site, which is now on the market for £600, Stan Smith said parking had been a problem after the closure of the car park with residents "fuming over the chaos it has caused". Smith said the parking situation was set to get worse after proposals for double yellow lines in the to the Local Democracy Reporting Service, the proposals include Mill Street, Linden Avenue and The said the council "rode roughshod" over the petition to keep the car park and did not listen to concerns over the proposed new property."It's chaos in there now. Residents are fuming. People are parking on the bank by the war memorial opposite the Idsall Drive car park," he said."If they put double yellow lines on the road, where are people going to park then?"Nobody has thought this out. The council just doesn't care," he added. A council spokesperson said: "Taking into account the market at the time, along with planning and other costs and risks, the council is satisfied that it secured best consideration for the local taxpayer."The sale also removed the financial liability of ownership, allowing those savings to be diverted into front line services."The purchaser has since obtained planning consent for a single self-build dwelling, meaning that the future owner must live in the property for a minimum period of time."
The Independent
24-06-2025
- The Independent
Fraud victim lured conman to pub car park before arrest
A fashion shop owner who lost thousands of pounds in a luxury handbag scam lured her fraudster to a pub car park to have him arrested. Christine Colbert, 58, owner of Dress Cheshire in Prestbury, met Jack Watkin when he contacted her after noticing she was selling a Hermes Birkin bag. The 26-year-old, who described himself as a ' Kardashian of Cheshire', went on to defraud her of more than £43,800 after persuading her to loan him money which he claimed he would use to buy and sell the luxury bags at a profit. On Tuesday, Ms Colbert, holding a Hermes handbag, spoke outside Chester Crown Court after Watkin pleaded guilty to six counts of fraud. She said: 'It's been a very long journey. 'Obviously Cheshire Police have been fantastic but myself and another victim did go on quite a lone detective journey ourselves to bring our own evidence to the police with this.' On Monday, a jury heard an Instagram post from Ms Colbert about Watkin had been seen by another of his victims, friend Hannah Jakes. The women got in touch and came up with a plan to find Watkin, who police had been unable to locate. Ms Colbert said: 'Our stories were so similar and we just knew that if we could get him to a meeting, probably rooted in another financial deal, which it was, we could probably pinpoint a place.' After arranging the meet, Ms Colbert waited in the car park of The Merlin pub in Alderley Edge, wearing a large hat and in someone else's car, and when Watkin arrived she called 999. She said: 'He wasn't too pleased to see who was under the hat. 'I needed him to know it was me because I told him that if he didn't pay me back I'd come out on this. 'He worked on the basis that people would be too embarrassed or they were wealthy enough to write it off. I didn't fall into those categories.' Ms Colbert said she felt 'hugely betrayed' by Watkin, who she had considered a friend. 'Jack was an extremely believable person,' she said. 'His depth of knowledge of the luxury goods industry was quite staggering to be perfectly honest, considering his age as well. 'I was very much convinced that his lifestyle which we could see on social media was true and, to be fair, he was living that lifestyle, it just happened to be on everybody else's money.' She described him as a 'charming individual' and said she would be met with 'riddles' when she tried to talk to him about the money he owed her. She added: 'I have absolutely no idea what is in his mind and what he thought. 'I don't think he's worked a day in his life. He's rewritten history in his own mind and that's a fantasy world that he lives in. 'He thinks it's ok to live off other people's money.'
