House Sale??

Tenant sells rented property for £1.47m

A tenant has admitted selling his rented townhouse for £1.47 million.

Steven Rice, 43, of Basingstoke, Hampshire, pretended to be the owner of the South Kensington home after renting it using the false identity of Stuart Knight.

He then sold the property in the name of genuine freeholder Vernon Stratton, 83, before putting the money in a fraudulent account under that name.

Daniel Burgess, managing director of letting agency Discount Lettings, said: "Tenant sub-letting is not going to stop. But this is a one-in-a-million case.

"I can't see many tenants having the confidence to get fake ID and maintain the front with solicitors. Even sub-letting a property you don't own means you have to be pretty confident."

Rice was caught after Halifax staff raised the alarm when he tried to transfer the money to Dubai using a false driving licence.

At Southwark Crown Court, Rice admitted possessing a false ID document with intent and acquiring criminal property, but denied charges of fraud and possessing an article for use in fraud.

He has been remanded in custody for sentencing on August 16.