Pensioner Tricked Out Of £650,000 Home

Rosemary Straker: "I was astonished"

A bogus financial advisor swindled a pensioner out of her £650,000 Hampstead home, grabbing the property for himself when she approached him for help, a court heard.

Instead of being left with half a million pounds from the sale of the flat after her mortgage was paid off all retired Rosemary Straker, 75, had to show for it was £15,000.

Tony Trivett, 48, of Milton Road, Brentwood, Essex is charged with two counts of fraud and one of acquiring criminal property on or before January 24, 2014.

Prosecutor Mr. Jonathan Loades told the Blackfriars Crown Court jury: “These documents show the title of the property had passed to him for a fraction of what the property was worth.

“She was done out of her property, he obtained it for less than half the market value. He acted fraudulently and had not carried out her wishes.”

Rosemary, who receives a £140 a week state pension, shared Basement Flat, Elmwood, North End Way, with her son and a £500 per month lodger.

She believed her £145,000 mortgage would be wiped out by Trivett and she would have £30,000 cash for improvements while retaining ownership.

His reward would be a 5% charge on the property, which he would receive whenever it was sold.

“I wanted to hang onto the flat, I did not want to sell it,” she told the court. 

However, a £290,000 sale went through and as the new owner Trivett immediately borrowed £425,000 against the flat and £114,500 was paid into his bank account, which had a balance of 32p.

“He’s got the property and now he’s going to charge it up to the tune of four hundred and twenty-five thousand pounds,” added Mr. Loades.

“That’s greatly to his benefit isn’t it? Mrs Straker had a valuable property and now it is in the hands of someone else.

“It’s been sold for a fraction of its worth, remortgaged and that happens as a consequence of fraud on Mr. Trivett’s part.

“Mrs Straker cannot tell precisely how it was done. The secret of a good conman, fraudster is leaving the victim not knowing how they’ve been fleeced.

There is only one beneficiary, and a considerable one at that, Mr. Trivett.”

The sale was completed on December 20, 2013 and Trivett was arrested on March 20, 2014.

“He says there was no fraud or dishonesty and he was acting honestly and legally to carry out the wishes of Mrs Straker.

“The evidence points clearly that this man was dishonest and fraudulent in relation to these charges.”

The jury were told the defendant even held back half of the £30,000 Rosemary expected for improvements, claiming it was too much money to handle.

She suddenly received a letter telling her the flat had been sold for £290,000. “I was astonished. I had not agreed to sell him anything.

“It was totally opposed to what I wanted to do.”

Before this Trivett organised a valuation, which came back as £450,000 even though Loxton’s stated the flat had a market value of £650,000.

Rosemary continues to reside in the property.

Trial continues………..