Major update in Devon Block Management saga as BBC reports police investigation is underway
The property management business Devon Block Management is being investigated by Devon and Cornwall Police over allegations of fraud and misuse of funds.
Residents living in The Azure apartments on Plymouth Hoe, together with others living in Westbury Court in Devonport, The Millfields in Stonehouse, and the Kilmorie in Torbay, have all contacted the police force with complaints.
Six months after The Beagle was the first to highlight questions and concerns about DBM – which is based in Behan House in Stonehouse Street - today the BBC has published its own investigation.
And DBM has for the first time responded – but not to The Beagle.
Residents claim hundreds of thousands of pounds paid into reserve funds to manage repairs is either missing or unaccounted for.
In a statement to the BBC in Plymouth, DBM has reportedly said it is prepared “to inject funds to ensure… obligations,” while adding it could not comment further on matters due to the police investigation.
Devon and Cornwall Police told the BBC it was investigating “an allegation of fraud and misuse of funds in relation to a number of buildings primarily in Plymouth.” It said no arrests had been made and inquiries were ongoing.
Companies House lists two active directors of Devon Block Management: Sean Francis Nicholson and Elaine Nicholson. The accounts of DBM are listed as being overdue, and a proposal to strike off, which was published on October 14, has been temporarily suspended.
Click below for details of how the story developed:
Watch BBC Spotlight at 6.30pm on BBC1 and on BBC iPlayer for its report
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