Stamford antiques dealer Stuart Porter admitted a charge of fraudulent trading when he appeared before Lincoln Crown Court on Tuesday.
The charge relates to Stuart Porter Antiques Ltd during the period between January 1 and September 13, 2013.
Porter, 56, of Eskdale Avenue, Corby, also admitted five further charges of fraud involving £83,000 on dates between January 1, 2011 and May 31, 2013. The fraud charges relate to cash given to Porter by four people who believed their money was to be used to buy electrical components which were to be refurbished and sold on for a profit giving them a return on their cash.
Porter together with Maxine Norris, 53, of Bourne Street, Netherfield, Nottingham, and Sophie Norris, 21, of Annandale Road, Hull, has previously denied conspiracy to steal furniture, jewellery, ceramics and antiques between January 1 and September 13, 2013. A fourth defendant Dale Withers, 35, of Kirkhams Lane, Wisbech, is also accused of conspiracy to steal.
Maxine Norris was at Tuesday’s hearing but spoke only to confirm her name. Sophie Norris was excused attendance because she is due to give birth. Dale Withers failed to appear and a bench warrant was issued for his arrest.
Judge Simon Hirst adjourned sentencing Poter until September 30 to allow for the preparation of probation, medical and psychiatric reports.