Stephen RogersCar dealer Stephen Rogers cheated suppliers out of more than £100,000 by trading after his company had gone bust.
But the 41-year-old managing director has escaped jail after a judge at Swindon Crown Court suspended his 15-month prison term for a year.
Rogers had originally been charged with nine counts of theft to a total of more than £200,000, but pleaded not guilty to the allegations.
But, on the morning the trial was due to start, he pleaded guilty to one charge of fraudulently trading.
His company, Commercial Aspects Ltd, traded as Kingfisher Vehicle Services, based in Bramble Road on the Techno Trading Estate, in Elgin.
Prosecutor Robin Shellard said Arriva Vehicle Rentals, the company defrauded, was a large multinational with an arm which supplied new and used vehicles.
He said Rogers' brother-in-law invested in the company in May 2000 and December 2001, when the defendant told him the company was in difficulties.
During the following months the company reached its overdraft limit and staff noticed Rogers was sending out cheques to creditors before cancelling them, the court heard.
The firm also agreed to sell stock for Arriva Vehicle Rentals on a sale or return basis where the company had 30 days to sell the vehicles.
But a number of vehicles supplied to Kingfisher by Arriva were not paid for and they were not found on the premises when the liquidators were finally called in.
Mr Shellard said that originally it had been believed that about £200,000 had not been passed on to Arriva but after a number of vehicles were found the total loss turned out to be £112,000.
Rogers, of Slaters Orchard, Stratton, who also used to run the Tom Gallagher Van Centre in Broad Hinton, pleaded guilty to one charge of fraudulent trading between June 18 and September 1, 2002, by carrying on in business with intent to defraud.
Julia Flanagan, defending, said her client was not acting out of personal greed when he traded fraudulently but was just trying to keep the company afloat.
She said Rogers was a great salesman but was not good with the accounts.
She said he had tried to pass the firm on as a going concern when it got in trouble as it was not a case where the business had been run into the ground.
Since Kingfisher went bust she said her client had gone bankrupt and now stood to lose his home.
However, he had found another job working for Fleetfind on a commission- only basis and supported his wife, son and stepdaughters.
She said he only fraudulently traded for about ten days, during which time Arriva lost about £67,000.
Judge Charles Wade said: "You knew you couldn't pay the debts, the company couldn't, and therefore this was a deliberate attempt to shore it up and it was fraudulent trading.
"That is the crime. You went on when you knew it should have been closed.
"But I have decided I am not going to send you to prison because there are exceptional circumstances which warrant the suspension of the sentence.
"This is a very different case to someone who has for a long period of time done this for personal gain.
"The fact is that you were doing it without a view to personal gain, you co-operated with the liquidator, also you closed the business."
A statement from Arriva said: "We're aware of proceedings and have been monitoring the situation closely."
Gareth Bethell
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