Gang jailed for £6m investment scam that targeted more than 150 victims
Mastermind David Clarkson, 70, of Livesey Branch Road, Blackburn, was sentenced to seven and a half years at Southwark Crown Court on Tuesday having admitted conspiracy to defraud, money laundering and perverting the course of justice at an earlier hearing.
The remaining defendants were all found guilty in March after a six-month trial and were also sentenced on Tuesday.
The gang targeted mainly elderly victims aged between 60 and 90 with high-pressure sales tactics to push them into handing over money – one said she was 'hounded' into parting with her savings.
They befriended some of the people they scammed, forged documents and impersonated insurance brokers in order to steal cash.
The largest individual loss was £250,000.
Lillian Milner, 57, of Sliven Clod Road, Rossendale, Lancashire, was jailed for five years and six months for conspiracy to defraud and money laundering, while her husband Graham Milner, 55, of the same address, received three years and six months for money laundering.
Another two men were jailed for conspiracy to defraud and money laundering – Mark Fallon, 60, of Haslingden Old Road, Rossendale, Lancashire, was sentenced to four years and six months; and Anthony Flaton, 39, of Beauclerk Green, Winchfield, Hampshire, was jailed for five years.
David Clarkson's son Paul Clarkson, 46, of Shawbridge Street, Clitheroe, Lancashire, was sentenced to 20 months' imprisonment, suspended for two years, and ordered to carry out 180 hours of unpaid work, for money laundering.
City of London Police and bank staff managed to recover more than £2 million of the stolen money.
One victim said in his impact statement: 'I have found it increasingly harder to face the day and rarely have a good night's sleep with difficulty finding the motivation to get on with the daily tasks at hand.
'Dealing with this case has been very overwhelming and mentally consuming, often leaving me feeling very depressed with a general loss of faith in humanity.'
Lillian Milner bought herself a Porsche while many unsuspecting elderly victims lost their life savings.
Detective Constable Jay Smith from City of London Police said: 'These fraudsters stole life savings from hundreds, abusing their trusted positions out of pure greed.
'Clarkson, in particular, showed no remorse – cloning a regulated insurer and impersonating the broker to trick victims and later forging medical documents to avoid trial.
'Faced with overwhelming evidence, he eventually pleaded guilty.
'I thank the victims and their families for their strength and co-operation, and we remember those who sadly passed during the process. I hope this result brings some comfort.
'We remain committed to pursuing those who abuse trust and exploit the vulnerable. Let this case be a warning: you will be found, prosecuted and convicted.'
The police investigation was launched when suspicious payments were made by a company called Sable Intl Ltd to a newly formed law firm in August 2016.
Sable claimed to invest in property, and opened a £3.5 million bond scheme offering fake returns of 7% to lure in victims.
Police found that the trio behind the company, David Clarkson, Lillian Milner and Flaton, had links to an earlier investment scheme called Equitable Law Capital (ELC).
In reality, none of the investments was genuine, with the trio using internet advertising, cold calling and company brochures to convince victims.
Graham Milner and Paul Clarkson were appointed group directors of ELC when they had no relevant experience, and became involved in money laundering.
A front company based in the Seychelles and Switzerland was used to disguise the fact the money had come from crime.
Lillian Milner and Fallon, who was a solicitor, also used a newly set up law firm to launder money, with commission payments to Flaton going through an account in Mauritius.
Both ELC and Sable went into administration and voluntary liquidation at the end of 2016, owing a total of more than £4 million.
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