A FORMER accountant at the centre of a fraud investigation has been blocked by a court from selling his home.

Leslie Lesser, 77, of Burlescoombe Road, Thorpe Bay, applied to Basildon Crown Court to lift an order preventing him disposing of his £500,000 house.

He wanted freedom to negotiate with his mortgage company to avoid repossession after falling £9,000 in arrears.

But the court upheld the order and heard charges would soon be brought against Mr Lesser, who was first arrested in August 2009.

Peter Clark, representing the Crown, said: “Those instructing me are satisfied there is ample evidence to supply charges, albeit further evidence is being obtained, and it is in the public interest to pursue those charges. The upshot is there will be charges and there will be criminal proceedings.”

The court heard a restraining order on his assets and a bank account had been in place since late 2009 when Essex Police started investigating allegations Mr Lesser defrauded a woman.

He was arrested on suspicion of fraud following a complaint by Maggie Tuttle, 67, of Carlingford Drive, Southend, that he refused to return around £400,000 she invested with him.

Mr Lesser argued the order should only have been made if charges were imminent.

The court heard Mr Lesser has mortgages on the property and there is only around £90,000 equity left.

He told the court he has been given until January 28 to make payments or repossession will begin.

He said: “A creditor has obtained a further charge for £5,000.

“The equity is diminishing and it is in no one’s interest for foreclosure to take place.”

If the order was lifted he said he would sell to a friendly contact who would allow him to stay living there and rent the property.

He added: “If any equity is released I am happy to deposit any funds with the court pending the outcome of these proceedings.”

Mr Lesser said he had suffered during the investigation due to loss of reputation, and the impact upon his health and his wife who suffers cancer, through fearing they could be homeless.

However, Mr Clark said if Mr Lesser was able to sell there would be no chance of recouping any monies should he be convicted.

Judge Ian Graham said any repossession would have to go to the county court and it was unlikely a district judge would allow it while the restraining order remained.

The order also related to other assets of Mr Lesser and the judge allowed this to be lifted on a bank account containing £200, a £3,000 Land Rover and, £11,500 clock.

Mr Lesser, who said he denied all allegations, is bailed until late February.