Admin l Tuesday, March 07, 2017
LONDON, United Kingdom – Five men who were part of Carbon Credit, an investment fraud scam that tricked more than 70 senior citizens into handing over a total of £1.7 million have been jailed for a total of 14 years.
Detectives in the Metropolitan Police’s Complex Fraud Team launched an investigation into a company called Taylor & Mills Ltd after a case referral from Action Fraud in 2013.
Analysis of the company revealed employees were cold-calling elderly and vulnerable members of the public, using aggressive and persistent sales techniques, to persuade them to buy green investments known as ‘carbon credits’.
To make the company seem plausible, professional-looking, glossy brochures were produced extolling the virtues of carbon credits. The brochure, which even contained a quote from Barack Obama about the importance of green energy, was sent out to anyone who showed an interest when called.
The investigating officers discovered that none of the victims’ money was being used to buy carbon credits, but was instead paid into bank accounts in the name of Taylor & Mills Ltd. Alan Mill was listed as a director and shareholder of Taylor & Mills Ltd at Companies House and his identity was used to open the firm’s bank accounts.
Aaron Petrou’s role was to close deals and he used the pseudonym ‘Giles Beaumont’ when speaking to potential investors. Met officers identified Petrou’s fingerprints on a book he had given to one of the biggest investors in the scheme as well as other documents sent to victims.
Dean Hempseed, who used the name ‘Henry Parker’, was identified as another salesman who made a number of false claims to persuade at least 12 victims to invest in carbon credits.
One victim recorded a 35 minute telephone conversation in which Hempseed said he could return three times the investment made within four months and convinced the victim to invest £50,000. Another victim was tricked into investing £700,000 in the scam.
Daniel Forsyth was identified as the company’s accountant. During a search of his home address in Bromley, Kent, a portable hard drive was found which linked him to the fraud. Paul Thompson allowed his personal account to be used to receive almost £50,000 from Taylor & Mills Ltd, which was later withdrawn in cash. Detective Sergeant Richard Ward, from the Complex Fraud Unit, said:
“This investment scam involved the use of aggressive and persistent sales tactics to exploit vulnerable members of the public. These men were motivated purely by greed and showed a complete disregard for the financial loss and emotional impact on the victims of the scam.”
Detective Constable Carl Hughes, also from the Complex Fraud Unit, said: “Anyone who is contacted by a cold-call salesman is advised to treat them with extreme caution. If an investment opportunity sounds too good to be true, the chances are it probably is.”
To protect against investment fraud, people are advised never to take up offers on the spot from cold callers or give out bank account details or sensitive information. Fraudsters tend to target people aged over 65 and people are encouraged to talk to older, vulnerable family members to make sure they know how to spot bogus investments.
Anyone who believes they have been the victim of fraud can contact Action Previous Fraud on 0300 123 2040. All five men were sentenced at Southwark Crown Court on Monday, 6 March after they pleaded guilty to the charges against them at earlier hearings at the same court.
Alan Mill, 64 of High Street, Rainham, who pleaded guilty on 9 January, was sentenced to 16 months imprisonment for conspiracy to defraud. Dean Hempseed 35, of The Green, Hayes, who pleaded guilty on 9 January, was sentenced to five years imprisonment for conspiracy to defraud.
Paul Thompson, 29 of Parkside Avenue, Bromley, who pleaded guilty on 9 January, was sentenced to three months imprisonment, suspended for two years, for money laundering by concealing criminal property. He must also complete 150 hours unpaid work.
Daniel Forsyth, 34 of Kingsleigh Walk, Bromley, who pleaded guilty on 25 January 2016, was sentenced to four years and four months imprisonment for conspiracy to defraud. Aaron Petrou, 49 of Norsted Lane, Orpington, who pleaded guilty on 18 February 2016, was sentenced to three years and eight months imprisonment for conspiracy to defraud.
