A COMPANY owned by a jailed former Agora boss owed more than £29 million.
Amarjit Singh-Mann was sentenced to a seven-year prison term on October 29 along with associates Jagjeet Chahal, also jailed for seven years and Kamlesh Panchel who received a three and a half year term.
The men were found guilty of conspiracy to defraud at Harrow Crown Court on October 10.
And today the Citizen can reveal the huge debts owed by one company run by Singh-Mann.
According to records on business information website, Director Check, Singh-Mann was a director or secretary of 26 current or previous companies, including one responsible for running the Agora, Ablethird – which had debts of £29,280,181.
A report carried out by administrators Baker Tilly in January of last year, revealed that total.
It also suggested creditors are unlikely to get their money back, stating: “We regret to advise that a dividend to the unsecured creditors is not expected.”
Mike Galloway raised concerns over the running of the building during his time as a ward councillor for Wolverton.
He said: “I made approaches to various authorities including Customs and Excise, the gambling commission and Milton Keynes Council and no action was apparent.
“I can recall raising concerns at least five years ago to various bodies and know others did too.
“Ultimately the former owners were caught but it could have been so much different.”