Christian “nutter” disqualified for leading property investment firm into almost £2m debt

Christian “nutter” disqualified for leading property investment firm into almost £2m debt


A well known singer songwriter from the Christian community has been disqualified from practice after an investigation found he led his investment property firm into debts of nearly £2 million. 

Caleb Storkey, 33, from Moss Side in Manchester, signed a disqualification order banning him from managing, controlling or being the director of any company until 2017.


His company, Freedom Records Ltd, traded under the name of Freedom Properties out of a parsonage in Hulme, Manchester and offered a one-stop service for property investment with a focus on regenerating urban areas.


But Mr Storkey’s alter ego, a musician who – according to his website – is “known to be a nutter who gets himself into messy situations”, appears to have done just that in his business life too, and the company went into administration in April 2008.


Freedom Properties started trading in March, 2004 and specialised in dealing in property acquisition and management; sourcing properties for investment clients; carrying out refurbishment and construction projects; and acting as both letting and management agents.


According to the church publication, artisan, Mr Storkey split his energy between “his love for business and his passion for the arts. On a listings page, where the fallen businessman is listed, the magazine says: “His company, Freedom Properties, helps people make ethical investments in property, whilst helping to change their communities from the profits generated.”


With a strong presence in the local community, the firm obtained clients by advertising their services locally and targeted the Christian neighbourhood.The Insolvency Service who ran the investigation found that a number of Freedom Properties creditors were members of the clergy who had committed their savings to his business.   


However, in signing the disqualification order Mr Storkey didn’t dispute giving inaccurate information to his clients, resulting in 13 clients losing a total of £223,513.


He also didn’t dispute evidence showing he repaid himself £47,000 during the first four months of 2008 “when he ought to have known the company was insolvent.”


The investigation also found that he failed to provide accurate VAT records. The company only filed two VAT returns during its four years of trading, and the VAT debt when going into administration was in the region of £210,000.


Commenting on the case, Vicky Bagnall, Director of Company Investigations for The Insolvency Service, said:  “The fact that Mr Storkey has agreed to a seven and a half year disqualification undertaking should offer public reassurance. 


“Where companies state funds are held in client accounts pending completion of a transaction – as is common in property purchase – they must ensure that the funds are properly ring-fenced and not used as general funds.”

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