Initiative Property Management sparks economic crime investigation

Initiative Property Management, based in Branksome, is under investigation for fraud by the police.

Dorset Police has said it has received “a number of reports” relating to the company, which operates in the BCP area and parts of the south.

Detective Inspector Andrew Kennard, of the Economic Crime Unit, said: “It is the early stages of our investigation and preliminary enquiries are underway. 

IPM offices in Branksome (Image: Daily Echo)

“We are keen to hear from anyone who thinks their property management company may have been affected. 

“If you would like to report a matter to Dorset Police, in the first instance, please can you find out whether a report has already been made in relation to your particular location to ensure only one report is submitted for each management contract.” 

The Echo has received multiple reports of residents and property owners paying the company thousands of pounds for services, however, they have been unable to contact anyone over recent days. 

Read more: Poole: Initiative Property Management ceases trading

An email sent by a manager earlier this week said that IMP ceased trading “with immediate effect” on Monday, September 18. 

It added: “We understand the accounts have been frozen, we would therefore suggest no further payments are made to the client accounts going forward.” 

The Echo visited the IMP offices earlier this week and has tried to contact the director, Steven Greaney, to no avail. 

Anyone with information that could help the police with their investigation should call 101 quoting Operation Interest or occurrence number 55230141924.  

Alternatively, they should contact Crimestoppers anonymously online at Crimestoppers-uk.org or by calling Freephone 0800 555 111. 

Before ceasing trading, IPM managed 2,144 flats and apartments – or 175 blocks.  

The firm is regulated by the Financial Conduct Authority (FCA), according to an automated message on the IPM switchboard.