TWO men who have been prominent in the Thurrock business community for decades have been found guilty of stealing more than £3.5 million from a company supposed to be helping and promoting business opportunities in the borough.

They are now being held behind bars.

Dennis Wakeling, 83, of High Road, Orsett, and Graeme Loveland, 70, of West Hanningfield, Chelmsford, have been on trial for four weeks at Basildon Crown Court and this week were found guilty of multiple offences.

An investigation from Essex Police's Economic Crime Unit began in June 2019 following a report into national reporting centre Action Fraud.

Dennis Wakeling and Graeme Loveland

It was alleged that Loveland, a director and long-serving secretary of Thurrock Local Enterprise Agency and local businessman Wakeling, also a director of the Agency, sold assets belonging to it worth £3.59 million.

After selling the company's land and property for development, the two attempted to conceal their actions, transferring millions into various business accounts they owned.

Wakeling, who often featured prominently at local charitable events and had a very high community profile through companies including Thameside Electrical and Thameside Taxis, was charged with two counts of theft and one count of concealing or disguising criminal property.

It was alleged that Loveland had taken more than £1.5 million pounds, using the money to fund an extravagant lifestyle, purchasing luxury vintage cars.

Loveland was charged with four counts of theft and one count of concealing or disguising criminal property.

During police interviews in January 2020, Wakeling made significant comments, claiming that the money was "better in his pocket than someone else's."

Both men denied criminal intent, claiming that they were paying themselves a salary for their jobs.

An investigation from Essex Police's Economic Crime Unit, which consisted of hundreds of enquiries including interviewing dozens of witnesses resulted in the two men being charged.

Following the trial, the two men were found guilty on all counts and immediately remanded into custody.

After the verdict, His Honour Judge Hurst said the defendants would receive lengthy sentences, adding: "It amounted to eye-watering sums".

They will be sentenced on 1 September 2023.

Investigating officer Detective Constable Greig Avery said: "These men believed that they had gone under the radar and thought they had got away with funding a lavish lifestyle through criminal gains.

"It's often viewed that theft from a business, no matter how large or small is a victimless crime.

"This is not the case and members of the public pay for those who steal from businesses and in this case this was a non-profit making company whose aim was to provide free of charge, services to develop, encourage and support local businesses.

"No satisfaction is taken from convicting individuals at this stage of their lives, but the right result was achieved, ultimate greed on their parts prevented funds being utilised in the way that met the whole ethos of the company.

"This was a long investigation and a real team effort, with special thanks to the CPS and Prosecuting Counsel Mr A Evans.

"We continue to work closely with Action Fraud, who help those who have been scammed or defrauded."