ROGUE letting agent Zulfiqar Hussain walked free from court yesterday but faces a £310,000 bill after swindling thousands out of tenants and landlords.

The 44-year-old, who operated the company Charles Lawson Lettings, swindled clients between 2007 and 2009 from his offices in Cowley Road, East Oxford.

He was given a nine-month jail term, suspended for two years, at Oxford Crown Court. He must also complete 40 hours’ unpaid work and fully reimburse those who lost out.

In all, he was ordered to pay £8,167 in compensation and £51,136.40 costs, plus £250,000 under the Proceeds of Crime Act.

The money, which Hussain must repay within six months or face three years in jail, is likely to be taken from the sale of part of his £1.2m property portfolio.

Prosecutor Robert Courts, acting for Oxfordshire Trading Standards, said Hussain failed to ringfence tenants’ deposits, let properties without the authority of their owners and failed to pass on rent he collected to the landlords.

He also illegally took money out of the business for his own use. The initial charge put this amount at £157,000, but this figure was reduced to “not less than £33,000” on the agreement of both the prosecution and defence.

Hussain, of Kenilworth Avenue, East Oxford, earlier admitted seven counts of engaging in an unfair commercial practice and one charge of money laundering.

Mr Courts said the majority of victims were students, most of whom put down large deposits and paid administration fees only to find Charles Lawson Lettings had ceased trading before their move-in dates or that the property owners had not authorised Hussain to let the houses. In one instance given as an example of his scam, a group of students agreed to move into 49 East Avenue, East Oxford, for 12 months starting in August 2009.

The group paid £1,837.50 in deposits in the March but, as they came to check on the situation three months later, found Charles Lawson Lettings had closed.

The property’s owner had also written to Hussain in September 2008 telling him not to let the property.

The students and landlord lost a combined £3,292.

Ecky Tiwana, defending, said his client had tried to expand his business too quickly and got into financial difficulty when the recession struck.

He said he was remorseful and was very willing to make amends by refunding all the money.

Mr Tiwana said it was agreed that Hussain had benefited by £250,000 through illegal practices.

Recorder Peter Lodder said: “You chose to use other people’s money.

“In my judgement that means these series of offences merit a custodial sentence.

“That is a sentence of imprisonment.

“However, I accept in your case you did not set out to behave in a fraudulent fashion and I think it’s significant that all who have lost out through what you did will be reimbursed.”

THE AGENT

Zulfiqar Hussain began Charles Lawson Lettings in 2005 but started siphoning off clients’ money in 2007.

Also known as Zogey, the 44-year-old has an extensive property portfolio in Oxford, including houses in Bartlemas Road and Havelock Road.

A keen cricketer at East Oxford CC, he has five children and, according to his barrister, currently lives at home with four of them and his parents.

He has two previous convictions, including one for handling stolen goods in the late 1980s.

Hussain is currently making ends meet as a taxi driver.

His barrister Ecky Tiwana said: “There’s no doubt that Charles Lawson Lettings was established in 2005 by the defendant and it was for a period of time well run.

“Landlords were treated properly and so were the tenants, and for two to three years the business was running well.

“It was run by him and the real problem is that he made some very bad business decisions. One of those was to grow the business rapidly, he started to buy premises and hire more staff.

“He then made the fatal mistake to combine his business with that of his brother, an estate agent.”

THE COMPANIES

Charles Lawson/Charles Lawson Lettings: Lettings agent in Cowley Road in 2005 but became Charles Lawson Lettings in 2009 with Zulfiqar Hussain as director. It was wound up in January 2010.

James C Penny: The residential sales and lettings business in Walton Street, Jericho, was set up in December 2003 with James Penny as manager but went into liquidation in February 2009 with debts of more than £400,000 following the resignation of Israr and Zulfiqar Hussain as director and company secretary respectively.

James C Penny (Lettings): Established in January 2009 in the same premises with Zulfiqar Hussain as director. He was succeeded by Israr Hussain in January 2010.

James C Penny (Estate Agents): Set up in January 2009 and operating from the same premises with Zulfiqar Hussain as director. He was succeeded by Israr Hussain in January 2010.

Penny & Sinclair: Set up by James Penny and Wendy Sinclair in March 2009 in Summertown. The business, which recently opened a new office on The Plain, Oxford, has no connection with James C Penny, its offshoots or Charles Lawson.