Victorian Bournemouth (238) has investigated events surrounding the bankruptcy of draper Stephen Ely. It has uncovered a web of dubious supply and financial management. The case leaves unanswered whether Ely’s involvement concerned just commercial failure or extended into the dubious practice of evading insolvency. He claimed never to have met the man to whom he transferred his assets, with the entire process carried out through the unilateral signing of documents. However, soon after, the business went up for sale at £5,000, a price well below the value of his buildings.
Tag: fraud
Victorian Bournemouth (142): a local long firm
Victorian Bournemouth (142) investigates the report of a criminal long-firm operating in the resort during the 1870s.