A Lancaster student lettings agent is the subject of a Rogue Traders “sting” due to be aired on BBC Watchdog tonight, Thursday.
John Sanderson, former boss of Lancaster Property Network Management (LPNM), was set up by the Rogue Traders team in the city two weeks ago.
The company is now in the hands of Preston-based liqidators Jackson Wright and Co Financial Recovery after going into voluntary liquidation in September.
A spokesman for the BBC said: “Rogue Traders have been investigating a local lettings agent John Sanderson, who runs LPNM. The team investigate why he has left landlords and tenants in the lurch owing them many thousands of pounds.”
Lancashire Police said last week that it had received three reports from Action Fraud relating to the company, and is currently assessing the evidence.
A spokesman for Mr Sanderson said: “LPNM was designed to act in the interests of landlords, to maximise their rental income and minimise administrative workload, providing a seamless service for landlords and students alike.
“Unfortunately, the student housing market experienced unprecedented changes, which impacted LPNM’s business model as well as all other student accommodation providers. Despite significant financial investment into LPNM, the business was no longer able to honour the levels of guaranteed income agreed with the landlords.
“Every effort was made to remedy the situation however the business went into liquidation proceedings on September 10.”
The show will air tonight, October 22, at 8pm on BBC1.