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Financial investigations into failed Huntley businessman who ran cannabis factory

By EchoLauraC  |  Posted: April 10, 2014

Gloucester Crown Court

Financial investigations into a failing businessman, who set up a cannabis factory after spiralling debt, are continuing.

Police are looking into Nicholas Lowe’s finances after the 53-year-old was found growing around £40,000 worth of cannabis in July 2012.

Lowe of Blaisdon Lane in Huntley was jailed for three years after pleading guilty to producing the controlled drug, possession with the intent to supply, and extracting £1,598.25 worth of electricity without authority.

Gloucester Crown Court heard last year, Lowe ran a £3.7 million body shop business until getting into debt during the recession and was forced to put his company into liquidation.

Prosecutor Giles Nelson said an application was being made under the Proceeds of Crime Act and inquiries were ongoing into a home Lowe had recently sold and another £60,000 of assets.

Lowe was ordered to return to the court on July 3.

The court previously heard, when police busted the three converted stables they found 196 plants, along with 439 grams of the drug at the farm.

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