US Edition
Fraudsters who targeted more than 150 victims in £6m investment scam jailed
UNITED KINGDOM, JUL 24 – The gang used forged documents and impersonation to steal £6 million from over 150 mainly elderly victims, police said, recovering more than £2 million of the stolen funds.
- A Lancashire-based gang led by 70-year-old David Clarkson was jailed for running a £6 million investment scam targeting over 150 mainly elderly victims between 60 and 90 years old.
- The scam involved fraudulent £3.5 million corporate bonds promising fake 7% returns and used high-pressure sales tactics, internet advertising, cold calling, and forged documents to lure victims.
- Clarkson impersonated insurance brokers, cloned a regulated insurer, laundered money through firms in the Seychelles and Switzerland, and showed no remorse despite overwhelming evidence before pleading guilty.
- Clarkson received a seven-and-a-half-year sentence at Southwark Crown Court, while associates Lillian Milner and Mark Fallon also received jail terms, and police recovered over £2 million of the stolen funds.
- Authorities and the Financial Conduct Authority remain committed to pursuing fraudsters exploiting the vulnerable, stating, "You will be found, prosecuted and convicted," and thanked victims for their strength.
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Leaning Left2Leaning Right1Center7Last UpdatedBias Distribution70% Center
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- 70% of the sources are Center
70% Center
L 20%
C 70%
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