By . Paul Bentley . PUBLISHED: . 17:35 EST, 23 February 2014 . | . UPDATED: . 06:13 EST, 24 February 2014 . Malcolm Collins contacted his brother-in-law so he could buy Owen Hill's £1.8million house for himself at a reduced rate . This is the first picture of the estate agent who tried to swindle a dying pensioner out of £800,000 by selling his house for just over half its real value. Malcolm Collins contacted his brother-in-law so he could buy Owen Hill’s £1.8million house for himself at a reduced rate. The sale was halted only when Mr Hill’s neighbours intervened – but by this time the pensioner, who had felt ‘humiliated’ and ‘distressed’ after discovering how he had been duped, had died. The case has led to concerns that many other vulnerable people could have fallen victim to similar schemes by aggressive estate agents. Mr Hill, 88, had served in the Merchant Navy on the Arctic Convoys during the Second World War, and had been very astute in business when he was younger. But he had become very unwell in his old age, was frail and confused and had lost much of his sight, and had no concept of how much his three-storey townhouse in one of the country’s most exclusive areas was worth. In March last year, he was contacted by upmarket Bargets estate agents – owned by Neil Stone, 50, a self-made millionaire who lives in a £3million four-bedroom house in Hampstead Garden Suburb, North London. The London agency, which is based in Regent’s Park and deals in properties worth as much as £30million, had written to many wealthy homeowners in St John’s Wood, North London, as part of a marketing tactic. The letter from the agency claimed it had a  ‘genuine buyer’ interested in  purchasing Mr Hill’s home. Neil Stone, 50 (left), a self-made millionaire, owns the estate agents that Collins works for. Jason Harris, 45 (right), Collins's brother-in-law, offered £1million to buy the property which was actually worth £1.8million . Thinking the letter had been addressed to him personally, Mr Hill responded and was quickly visited by Mr Collins, 41, on behalf of Mr Stone’s firm. According to court documents, Mr Hill was ‘in a fragile and vulnerable physical and mental condition’ when he was subsequently ‘misled and taken advantage of’ by the agent. Rather than carry out a valuation on Mr Hill’s house, Mr Collins asked the confused old man how much he wanted. When Mr Hill said £1million, Mr . Collins did not tell him it was worth almost double, or put the property . on the open market. Instead, he called Jason Harris, 45, who is married . to Mr Collins’s sister, so he could buy the house for himself at the . reduced rate. Mr Hill had no . idea Mr Harris who works as acquisitions director of property company . First Urban Group, was related to Mr Collins. The elderly man was . subsequently driven to a lawyer to exchange contracts. The . sale was stopped only when horrified neighbours found out. They . threatened to take the agents to court and forced the sale to be frozen. Property: Mr Hill lived alone in the terraced house in sought-after St John's Wood . Neighbourly: It was only when Mr Hill told his neighbours in the street about the proposed sale that it was called off when they brought in other lawyers to stop the deal . The neighbours claim that Mr Hill was . caused considerable distress and embarrassment by the realisation that . he had been duped, which ‘almost certainly’ hastened his death in May . from lung cancer and pneumonia. Jane Cooper has spent the past year fighting through the courts to have the deal rescinded and legal costs covered by Bargets. She . has since organised the sale of Mr Hill’s house for more than . £1.8million so his next of kin in Australia would receive the full worth . of his property. Vulnerable: Owen Hill, 88, agreed to sell his £1.8million home for £1million after an estate agent visited his home . Mrs Cooper, a retired solicitor, said it had been obvious Mr Hill was extremely unwell at the time he signed over his house. ‘Owen couldn’t see clearly and was terribly muddled,’ she said. ‘He had no concept of money. It was obvious to anyone he met that Owen was very, very frail.’ Mr Hill’s neighbours used GSC Solicitors to battle with Bargets to cover the huge legal costs involved in fighting for justice for Mr Hill. They settled out of court late last year. Papers were lodged at the London Mercantile Court and Bargets’s insurers settled by paying £71,000 towards the £100,000 the episode cost Mr Hill’s estate. Bargets is now being investigated by the National Federation of Property Professionals. With no official regulator, however, none of the agents can be struck off or officially penalised. Mr Collins, who has worked at Bargets for three years, was initially given a ‘second chance’, but he was sacked on Friday after his boss was confronted by the Mail. He declined to comment. Mr Stone apologised and insisted nothing similar had ever happened before or would ever happen again. ‘It was an error of judgment,’ he said. ‘When I found out the true events, we wanted to get it rescinded. So at least we actually did something about it. I’m sorry for the whole debacle. I’ve never had problems before.’ Mr Harris, who lives in a £1million house in Stanmore, North London, declined to comment.
Owen Hill responded to a letter saying a buyer was interested in his home .
Estate agent Malcolm Collins did not carry out a valuation of the property .
Instead he asked how much Mr Hill wanted, and was told £1million .
Mr Hill the agreed to sell the house to Mr Collins's brother-in-law .
Pensioner died a month after the sale was agreed .
Estate agents Bargets say the sale was a 'bad error of judgement'
By . Paul Bentley . PUBLISHED: . 17:35 EST, 23 February 2014 . | . UPDATED: . 06:13 EST, 24 February 2014 . Malcolm Collins contacted his brother-in-law so he could buy Owen Hill's £1.8million house for himself at a reduced rate . This is the first picture of the estate agent who tried to swindle a dying pensioner out of £800,000 by selling his house for just over half its real value. Malcolm Collins contacted his brother-in-law so he could buy Owen Hill’s £1.8million house for himself at a reduced rate. The sale was halted only when Mr Hill’s neighbours intervened – but by this time the pensioner, who had felt ‘humiliated’ and ‘distressed’ after discovering how he had been duped, had died. The case has led to concerns that many other vulnerable people could have fallen victim to similar schemes by aggressive estate agents. Mr Hill, 88, had served in the Merchant Navy on the Arctic Convoys during the Second World War, and had been very astute in business when he was younger. But he had become very unwell in his old age, was frail and confused and had lost much of his sight, and had no concept of how much his three-storey townhouse in one of the country’s most exclusive areas was worth. In March last year, he was contacted by upmarket Bargets estate agents – owned by Neil Stone, 50, a self-made millionaire who lives in a £3million four-bedroom house in Hampstead Garden Suburb, North London. The London agency, which is based in Regent’s Park and deals in properties worth as much as £30million, had written to many wealthy homeowners in St John’s Wood, North London, as part of a marketing tactic. The letter from the agency claimed it had a  ‘genuine buyer’ interested in  purchasing Mr Hill’s home. Neil Stone, 50 (left), a self-made millionaire, owns the estate agents that Collins works for. Jason Harris, 45 (right), Collins's brother-in-law, offered £1million to buy the property which was actually worth £1.8million . Thinking the letter had been addressed to him personally, Mr Hill responded and was quickly visited by Mr Collins, 41, on behalf of Mr Stone’s firm. According to court documents, Mr Hill was ‘in a fragile and vulnerable physical and mental condition’ when he was subsequently ‘misled and taken advantage of’ by the agent. Rather than carry out a valuation on Mr Hill’s house, Mr Collins asked the confused old man how much he wanted. When Mr Hill said £1million, Mr . Collins did not tell him it was worth almost double, or put the property . on the open market. Instead, he called Jason Harris, 45, who is married . to Mr Collins’s sister, so he could buy the house for himself at the . reduced rate. Mr Hill had no . idea Mr Harris who works as acquisitions director of property company . First Urban Group, was related to Mr Collins. The elderly man was . subsequently driven to a lawyer to exchange contracts. The . sale was stopped only when horrified neighbours found out. They . threatened to take the agents to court and forced the sale to be frozen. Property: Mr Hill lived alone in the terraced house in sought-after St John's Wood . Neighbourly: It was only when Mr Hill told his neighbours in the street about the proposed sale that it was called off when they brought in other lawyers to stop the deal . The neighbours claim that Mr Hill was . caused considerable distress and embarrassment by the realisation that . he had been duped, which ‘almost certainly’ hastened his death in May . from lung cancer and pneumonia. Jane Cooper has spent the past year fighting through the courts to have the deal rescinded and legal costs covered by Bargets. She . has since organised the sale of Mr Hill’s house for more than . £1.8million so his next of kin in Australia would receive the full worth . of his property. Vulnerable: Owen Hill, 88, agreed to sell his £1.8million home for £1million after an estate agent visited his home . Mrs Cooper, a retired solicitor, said it had been obvious Mr Hill was extremely unwell at the time he signed over his house. ‘Owen couldn’t see clearly and was terribly muddled,’ she said. ‘He had no concept of money. It was obvious to anyone he met that Owen was very, very frail.’ Mr Hill’s neighbours used GSC Solicitors to battle with Bargets to cover the huge legal costs involved in fighting for justice for Mr Hill. They settled out of court late last year. Papers were lodged at the London Mercantile Court and Bargets’s insurers settled by paying £71,000 towards the £100,000 the episode cost Mr Hill’s estate. Bargets is now being investigated by the National Federation of Property Professionals. With no official regulator, however, none of the agents can be struck off or officially penalised. Mr Collins, who has worked at Bargets for three years, was initially given a ‘second chance’, but he was sacked on Friday after his boss was confronted by the Mail. He declined to comment. Mr Stone apologised and insisted nothing similar had ever happened before or would ever happen again. ‘It was an error of judgment,’ he said. ‘When I found out the true events, we wanted to get it rescinded. So at least we actually did something about it. I’m sorry for the whole debacle. I’ve never had problems before.’ Mr Harris, who lives in a £1million house in Stanmore, North London, declined to comment.
February 2014 . Malcolm Collins contacted his interested in  purchasing Mr Hill’s home. Neil Harris, 45 (right), Collins's brother-in-law, responded and was quickly visited by Mr Collins, by the agent. Rather than carry out a valuation old man how much he wanted. When Mr Hill said £1million, Mr . Collins did not tell him it was sale of Mr Hill’s house for more than . Vulnerable: Owen Hill, 88, agreed to sell his