Student Portfolio Up for Sale
15th Jan 2021
Work on a huge student development scheme in Liverpool has stopped, following the arrest of the founder of Elliot Group.
Elliot Lawless, founder of Elliot Group, was recently arrested alongside Liverpool council's director of regeneration Nick Kavanagh on suspicion of carrying out fraud, bribery and corruption offences.
The pair have not been charged and Mr Lawless was subsequently released on bail.
Work on the 1,000-bed Aura student scheme and the 416-bed Infinity development stopped after the contractor Vermont raised concerns following the arrests.
As part of the investigation Merseyside police seized £200,000 in cash, which Mr Lawless attributed to various businesses.
He commented: "At a recent court hearing it was set out that a large sum of money was seized from one of my properties. This money was from various cash businesses that I operate as well as bank deposits and was receipted and properly accounted for."
"I have provided the necessary details to the police and fully expect it to be returned in due course once police finish their enquiries."
Lawless said he wants to quickly clear his name following the "completely baseless" allegations.
The Aura development is due to be finished by September this year, assuming no lengthy delays.
