Posted inPolicewatch

Fraudster jailed for defrauding £1.5m from film company

A businessman who fraudulently obtained a £1.5 million loan from a film company by claiming the money was needed to secure £30 million of future film funding has today, 12th July, been jailed for seven years at the Old Bailey.Sencer Sevket aged 54 who was purported to operate from St Catherine’s Dock East London, had previously been found guilty of fraud by false representation and possession of articles for use in a fraud following an investigation by the City of London Police.Detectives uncovered how in September 2009 Sevket, representing South Korean company KSI Ejder Korea Inc, agreed the £30 million private financing agreement with the film production company.However, in April 2010, just prior to the when the film funding arrangements were supposed to be concluded Sevket requested the loan to secure the finance, promising to pay it back in 60 days with the repayment obligation backed by a major bank.However, the loan was never repaid and the film funding never materialised with Sevket attempting to placate the film company with excuses.In August 2010 City of London Police officers arrested Sevket at his home, and a search of the premises revealed 40 million euros worth of promissory notes along with details of his company and personal bank accounts held with four banks.DS Rob Stirling, of the City of London Police, said:“Sevket persuaded the film production company to hand him a massive loan by dangling the cherry of tens of millions of pounds of future funding. He had no intention of paying this money back, spinning a web of deception in an attempt to keep him out of trouble.“Thanks to the City of London Police investigation he is now in his rightful place, behind bars, with his seven year sentence sending out a strong warning to other people thinking of trying to pull a similar trick.”

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