Rogue property developer Mitchell Mallin has been banned from acting as a director for 14 years after heading up a £13m property ‘ponzi’ scheme.

Mallin, 34, from Chelmsford, Essex, was director of Essex and London Properties Limited.

The company targeted investors with the promise that their funds would be used to purchase dilapidated properties in London and Essex before renovating them and selling them for a profit.

Over three years, Essex and London Properties Limited obtained more than £13m in investments from investors. Hundreds of people invested in the company providing funds between £5,000 to over £100,000.

Only one property, however, was ever purchased for renovation and instead the majority of investors’ money was siphoned to overseas bank accounts.

The company was wound up in the public interest in September 2018 following an investigation by the Insolvency Service.

The investigation found that Mallin’s company had failed to…

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