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Estate Agency Staff Arrested in South of England Fraud Probe

A 58-year-old staff member at PS&B Estate Management Limited in Portsmouth has been arrested as part of a police investigation into alleged fraud and money laundering. The individual was detained by the South East Regional Organised Crime Unit on suspicion of fraud by abuse of position, fraudulent trading, money laundering, and theft, and was later released under investigation.

PS&B Estate Management Limited, which specialises in block management, has reportedly faced financial difficulties since at least February, when HM Customers & Revenues filed a winding-up petition in the High Court. The petition was dismissed after being settled. The company, formerly known as Parsons, Son & Bailey, claims a history of approximately 200 years.

According to local media reports, staff members left the firm after its Lloyds bank account was frozen, leaving many unpaid. The Brighton office was subsequently closed, and a later Revolut account was also frozen. The firm reportedly held around £7 million in client funds and managed 400 blocks at one point. Questions have been raised about leaseholder funds, with allegations of unpaid bills, though company director Peter Hewett denied these claims earlier this year.

Trading Standards has launched an investigation into the firm’s activities. PS&B Estate Management is part of the Portsmouth-based Blue Bombini Group, which operates three estate agencies and a chartered surveying firm covering Brighton, Portsmouth, and Bognor Regis. Peter Hewett is the sole director of both the group and PS&B Estate Management. Companies House records show that Blue Bombini Group and its four subsidiaries, including PS&B Estate Management, are all late filing their annual accounts.

Hampshire and Isle of Wight Constabulary has asked anyone affected to contact them by calling 101 and quoting reference 44260266014. The investigation is ongoing as authorities examine the extent of the alleged financial irregularities.