Letting agency director faces jail after admitting running brothel

first_imgThe 42-year-old boss of a letting agency in Hertfordshire has pleaded guilty to running a brothel within a property he rented off his own company.Sunil Mehta is a director at sales and lettings firm SureLet (Hemel Hempstead) Ltd which trades as Sure Sales & Lettings and which is part of a 15-branch national franchised network.The company’s website says he joined the business after a career in banking in London working for Morgan Stanley, and was instrumental in setting up the Sure franchising network with a family member.Mehta, along with 40-year-old madam Graziela McNamee ran the brothel within an apartment at Evans Wharf (pictured, above) in the historic riverside village of Apsley just outside central Hemel Hempstead.Proceeds of crimeIn a separate case during 2017, McNamee was convicted of running several  brothels in London’s City financial quarter and last year was ordered to pay back £300,000 following a Proceeds of Crime Act hearing.Her and Mehta’s unusual business operated between June 1st, 2016 and April 5th, 2017 after which the two were arrested by Hertfordshire constabulary police officers. An investigation by the force discovered that Mehta had rented the property from SureLet under a pseudonym, Steve Denton.At a hearing at Luton Crown Court, Mehta pleaded guilty to managing a brothel and also two counts of fraud. Police found he had claimed a single person occupancy council tax allowance from his local authority for the property.Mehta and McNamee are due to be sentenced at Luton Crown Court in June this year.SureLet sunhil mehta February 25, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » Letting agency director faces jail after admitting running brothel previous nextAgencies & PeopleLetting agency director faces jail after admitting running brothelDirector of franchised sales and letting agency in Hemel Hempstead pleads guilty to charges including two counts of fraud.Nigel Lewis25th February 2019012,833 Viewslast_img read more

Allianz merges its two Dutch pension funds

first_imgThe two Dutch pension funds of insurer Allianz Netherlands have merged into a new, €662m pension fund, called Allianz Nederland Groep.The Buizerdlaan pension fund contributed €200m to the new scheme while Pensioenfonds Allianz Nederland added €448m to the combined assets. The pension funds have 930 and 3,100 participants, respectively.In their respective annual reports, the boards of the schemes said the merger decision followed an exploration of the future options.They dismissed joining a general pension fund (APF) or a sector scheme but indicated that the new combination left the option of joining an APF within five years. Buizerdlaan was the pension provider for staff of former insurer Zwolsche Algemeene, which merged with Royal Nederland in 2003, creating Allianz Nederland.The schemes pointed out that the union was aimed at reducing complexity and gaining synergies for investment and administration.Buizerdlaan’s administration costs per participant were €1,927, whereas Allianz Nederland paid €733 for pensions provision.Last year, supervisor DNB had tasked Buizerdlaan to draw up an improvement plan after an on-site investigation revealed its decision-making and risk and investment management were not up to scratch.Both schemes had reported combined costs of 0.2% for asset management and transactions.Allianz Global Investors carried out asset management, while Allianz acted as pensions provider.The now merged schemes had already shared many functions, including an administrative bureau, four advisory committees as well as a number of board seats.Their asset mix as well as their coverage ratio were largely the same. Funding of Buizerdlaan and Allianz Nederland stood at 111.7% and 110.7%, respectively, at the end of March.Both schemes also implemented average salary arrangements.PrecedentsThe consolidation trend among Dutch pension funds has also been in evidence at companies with several pension funds as a result of past mergers.Last year, cardboard firm Smurfit Kappa fused its two pension funds, while the four schemes of telecoms firm KPN merged into one.The engineering companies Haskoning and DHV merged their compartments in a multi-company scheme, while Aon Hewitt is in the process of uniting the pension funds of the old merger partners Aon and Hewitt, possibly into a new Belgian-based pensions vehicle.In a contrast to these moves, ING and Unilever established new collective defined contribution (DC) schemes for new employees and further accrual for existing staff, in addition to their old pension fund with a DC plan. Shell introduced a new individual DC scheme, SNPS.last_img read more