Happy! Gold Coast man has deceived 19 investors more than A $ five hundred thousand and is now sentenced to seven years in prison!
John, a 58-year-old gold coast man, reportedly persuaded others to invest in his fake sports gambling game company, saying it would pay off as much as 28%.
One of the men had invested A $ one hundred and nine thousand, and after John told him that the company`s boss had absconded to the UK with money, John urged him to invest another A $13,000, he said at the time. The money will be used to charge his boss with legal fees so that he can get back the money he had been cheated of.
In addition to the victim, John swindled A $ three hundred and ninety seven thousand nine hundred and ninety nine from 18 other victims.
On Monday, Southport District Court, a former sale, pleaded guilty to two counts of A $30, 000 in fraud and one count of fraud, but said he did not regret his crimes.
In the judgment, the judge pointed out that the victims` money was the hard-earned money they had saved. The judge also said that although she had not received all the statements of victimization from 19 investors, she knew that they had suffered serious injuries, not only economically but also psychologically and emotionally.
In 2015, after police linked John to the sports gambling game P.O. Box, John arrest was finally arrested. Defense lawyers say John didn`t start the scam until his other business failed.
He was not eligible for parole until January 2021.
