MP calls for investigation into collapse of firm

An MP has called for a full police investigation after the collapse of a Kent property business allegedly triggered losses of £40m for about 150 people.

Clients say JVIP Group told them that they could receive more than 10% interest on their investments, but many of the companies linked to the group folded in 2022.

Mike Martin, MP for Tunbridge Wells, has written to the commissioner of the City of London Police to urge the force to take responsibility for an investigation into alleged fraudulent activity.

In a statement, Kent Police said it had referred the matter to the City of London Police after considering the likelihood of a successful prosecution.

The City of London Police, which is the national lead force for fraud, said it was reviewing the parliamentary letter sent by Martin.

Investments were made into a number of companies styled as JVIP Group, which were run businessman Peter Dabner. He previously denied any wrongdoing.

Many of the 140 associated companies collapsed in 2022 and were placed into the hands of administrators.

Documents showed that companies in the JVIP group received more than 40 government-backed loans, each of about £50,000.

The government's Bounce Bank Loan scheme was set up in April 2020 with the aim of keeping small businesses afloat during the Covid-19 pandemic.

The BBC has attempted to contact Mr Dabner for comment about the letter.

Mark Palmos, from East Grinstead, West Sussex, said he invested and lost £429,000.

He has called on the City of London Police to "take this seriously".

"If they don't take this case on, it will simply encourage more people to do the same kind of thing," he said.

In his letter to temporary Commissioner Peter O'Doherty, Martin said the majority of those who invested in JVIP were "ordinary people".

"The impact has been absolutely devastating, with many of our constituents losing all their life savings and suffering severe financial hardship," he said.

"Constituents have told us they've lost their pensions, been forced to sell their family homes and have had to claim benefits for the first time in their working lives."

He said there had been an "insufficient level of investigation" and called on the City of London Police to take responsibility for an investigation.

The letter was signed by an additional 22 MPs.

Kent Police said a full and thorough assessment was carried out to establish if it was proportionate to carry out a full criminal investigation after reports of alleged fraudulent activity were made in May 2022.

After considering specialist advice from organisations including the City of London Police, it was determined that no further action would be taken, the force said.

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