Babushka bar owners jailed for £2million loan swindle
TWO directors of a Hampstead bar who pulled off a £2 million loan swindle to fund extravagant lifestyles have been jailed. Gary Hibberd, 45, and Timothy Allen, 36, who ran Babushka on Heath Street as well as other top London nightspots, admitted two count
TWO directors of a Hampstead bar who pulled off a £2 million loan swindle to fund extravagant lifestyles have been jailed.
Gary Hibberd, 45, and Timothy Allen, 36, who ran Babushka on Heath Street as well as other top London nightspots, admitted two counts of conspiracy to defraud.
Southwark Crown Court heard last week their success was built on borrowed cash.
Over two years, the pair conspired together to defraud the Royal Bank of Scotland and loan company Lombard North Central Plc so they could drive around in Bentleys and splash cash leading the high life.
You may also want to watch:
On Friday Hibberd, of Grosvenor Road, Pimlico, was sentenced to six years' jail while Allen, of Tavistock Crescent, Notting Hill, was locked up for three and a half years.
Prosecutor John Williams said: "They had what was perceived as the trappings of wealth, which was impressive to those with whom they came into contact, but it was borrowed so there was not substance to the wealth."
Most Read
- 1 Camden's Levertons to arrange the funeral of Prince Philip on April 17
- 2 Lockdown easing April 12 live updates: North London shops and pubs reopen
- 3 Royal Free ITU nurse who swapped the Caribbean for a Covid ward
- 4 'It's a godsend': Hampstead pubs and shops back serving the community
- 5 Nazanin Zaghari-Ratcliffe: Wait for second verdict could last 'until Easter'
- 6 Primrose Hill to close at night this weekend after antisocial behaviour
- 7 Hampstead, Highgate and Primrose Hill beer gardens reopening on April 12
- 8 Locals celebrate as the Carlton Tavern finally re-opens
- 9 The questions council 'must answer' after spending £23m on £10m office
- 10 Injury concerns spoil Arsenal's win over Sheffield United
Judge Michael Gledhill QC added: "A great deal of money was used to fund extravagant lifestyles. You were both unscrupulous in the way you persuaded the banks to part with their money. In the circumstances these offences are serious and have to be met with custodial sentences.
