Case details for Samuel Jaz Eustace

Name: Samuel Jaz Eustace

Name: Kingsman Property Limited

Date of Birth: 23 / 10 / 1985

Date Order Starts: 24 / 3 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 09822551

Last Known Address: Flat B/12, Chesham Heights,, St. Monicas Road,, Kingswood,, , TADWORTH,, KT20 6DF

Conduct: From October 2016, Samuel Jaz Eustace (“Mr Eustace”) caused or allowed Kingsman Property Ltd (“KPL”) to trade with a lack of commercial probity, in that: • KPL received funds in the form of loans from investors in excess of £6.7 million but failed to return sufficient funds and or profits to those investors in line with KPL’s business strategy; • In several cases, KPL offered false representations as to returns on investments including offering returns up to and in excess of 100%; • Between October 2016 and March 2019, £3,014,722 was repaid to investors. KPL used new investments to directly pay returns to previous investors; • Of the 362 investments, 24 were set to “break even” by March 2019. After this date, all payments to investors stopped and no investor received a profit on their investment; • KPL’s accounts for 30 June 2017 show KPL to be insolvent with Net Asset deficit of £697,958. KPL’s deficit increased as at 30 June 2018 to £831,112 and by 30 June 2019 to £1,669,993; • Between 1 November 2017 and 30 June 2019, KPL issued dividends totalling £397,172 whilst having insufficient company profits to do so; • On 07 August 2019 KPL entered liquidation with an overall liability to creditors of £4,910,449. 

This information is correct as at 3 / 3 / 2022

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