A PROPERTY tycoon in east London has been accused of “systematically exploiting” hundreds of tenants by “stealing” deposits and intimidating renters. 

Twenty-seven former tenants of Rakesh Patel, who owns 49 HMO — houses of multiple occupancy — properties in Tower Hamlets, have this week launched a public campaign to get their deposits back. 

The group, supported by London Renters Union (LRU) have accused Mr Patel in an open letter of deducting money based on “bogus” claims, and have threatened legal action if the deposits are not repaid.