A MILLIONAIRE businessman left students without water and electricity after pocketing their money.
Matthew Money, the managing director of student letting firm Kingston Crown Accommodation Centre, took money for rent and bills from students but did not pass it on to landlords or utility companies.
Some students were forced to wash in a nearby pub's toilets after their water supply was cut off. Others had their homes raided by utility companies.
Money, 43, managed £8m of property through the company. He also owns three houses in Portugal worth £1m and a "substantial" home in Kirk Ella.
Police will now be applying to have his assets seized.
Detective Constable Stacey Ombler, of Hull's priority crime team, said: "He was living a life of luxury with expensive holidays, membership to country clubs and regular meals at high- end restaurants.
"Now he has been dealt with for these offences he will be the subject of a further Proceeds of Crime Act investigation to seize his ill-gotten gains."
Money left four landlords about £10,000 out of pocket each after failing to pass on rent to try and prop up his failing business.
He was given an 18-month prison sentence, suspended for two years, at Hull Crown Court following a three-year police investigation.
Det Con Ombler said: "Tenants in these rented properties were directly affected with disruptions to their utilities and the basic upkeep of the accommodation.
"It became clear during the investigation that Money targeted landlords due to their vulnerability and inability to chase things up due to personal circumstances.
"The students who lived in the properties ended up with no gas or electricity as the utility bills hadn't been paid as agreed and some of them had to use nearby pub toilets to wash after water was cut off or broken down boilers were not fixed.
"They ended up with utility companies forcing entry into the properties to install pre-pay meters through no fault of their own.
"Throughout this, Money was financially benefiting from his crime."
Money, of Old Annandale Road, Kirk Ella, had been running the business for several years, but stopped paying landlords properly in 2010.
Hull Crown Court heard landlords were also told their boilers had broken down and asked for money, despite Money owing them thousands.
Judge Michael Mettyear, the Honorary Recorder of Hull and the East Riding, said: "This was shameful conduct by you, depriving these people of money they were due.
"You were in financial difficulties and were desperately trying to keep the company on the road so you could continue trading.
"That is not an excuse for descending into dishonesty."
His barrister, Richard Thompson, said he already starting paying the landlords back.
He said: "When the company failed, he could have simply walked away and then it would have been unlikely the landlords would have received payment.
"He accepts continuing to trade in the hope he could manage his financial problems.
"He accepts he failed to do that and caused considerable inconvenience to these landlords."
Money admitted four charges of fraud by abuse of position, relating to the houses, and one of charging VAT even though his business was not registered.
