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Six Jailed Over £6m Bond Scam Targeting Elderly Investors

Southwark Crown Court imposed sentences after a six-month trial exposed a sophisticated operation that siphoned £6 million from elderly investors.

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Overview

  • David Clarkson, 70, received a 7½-year prison sentence after pleading guilty to conspiracy to defraud, money laundering and perverting the course of justice.
  • Lillian Milner was sentenced to five years and six months, Anthony Flaton to five years, Mark Fallon to four years and six months, Graham Milner to three years and six months and Paul Clarkson to a 20-month suspended sentence for their roles in the scheme.
  • The group used high-pressure sales tactics, forged documents and broker impersonation to persuade more than 150 mainly elderly investors to hand over their savings.
  • A £3.5 million bond offering promising 7% returns was run through Sable Intl Ltd and Equitable Law Capital to lure in victims.
  • City of London Police and banking partners recovered over £2 million of the stolen funds before closing the investigation.