Midgham auction firm boss fleeced customers to line his own pockets, court hears
Customers were routinely "fobbed off" or sent dud cheques, while the bank accounts of online bidders were raided, Reading Crown Court was told.
Jonathan King of Cameo Fine Art Auctioneers, Midgham even treated himself to a luxury holiday at his victims' expense, said Gordon Menzies, prosecuting.
He told jurors: "It's not just that clients had difficulties and delays in getting their money - many never got paid at all."
Those critics "lucky" enough to get a cheque often found it bounced, the court heard.
A common refrain heard by frustrated customers was: "The cheque is in the post," jurors heard - and one victim was told that 20 times.
But worse was to come, for, as the net closed in, the company began raiding the bank accounts of online bidders who had used credit cards, said Mr Menzies.
He added: "It was not just 'inefficiencies,' as claimed and not just the scale of the complaints - customers' items went 'missing.'"
The true scale of the deception may never be known, the court heard. But it could involve sums of up to quarter of a million pounds.
In the dock beside 63-year-old Mr King, of Mattock Way, Abingdon was his wife Beverley and brother-in-law, Glenn Norcliffe, of Marcuse Road, Caterham, Surrey.
Mr King and Mr Norcliffe deny fraud by abuse of position.
Mr. King denies charges of making false representations and Mrs. King denies being concerned in the control or retention of criminal property.
Cameo eventually closed and Mr King was declared bankrupt. But, according to the prosecution, his deception was still not over.
The trial is expected to last up to six weeks
For the full report of this weeks's dramatic proceedings, pick up a copy of the Newbury Weekly News on Thursday.