An investigation has seen a fraudster sent to prison for seven years after he conned his victims, some of whom were family and friends, out of £1.8m.
David Robert Charles Gale fraud
David Gale ran a sports betting scheme and offered fake shares in a betting company, which he promised were both ‘risk free'.
However his victims, of which there were more than 30, were left short of thousands of pounds.
At Guildford Crown Court on Friday (December 12) he was sentenced to seven years in prison having earlier pleaded guilty to 32 counts of fraud and two counts of unauthorised regulated activity.
The 51-year-old formerly of Eastwick Road, Great Bookham, and now of Little London, Chichester, West Sussex, was found out after he lost all of their investments because of his gambling addiction.
His scheming started in August 2008 but ended in March 2011 when he was reported to Surrey Police by his disgruntled investors. Even after being reported to police Gale convinced one of his victims to continue investing in his scheme believing the lie that he had lost their money in a genuine mistake.
Investigating officer PC Mary O'Connor of Surrey Police's Economic Crime Unit said: "As a financial advisor David Gale took an unhealthy interest in his clients' affairs by getting to know how much money they could invest and preyed on them at vulnerable times in their lives to join his scheme.
"They placed their trust in him and were promised returns on their money, but instead were left victims of crime and were in some cases begged and bullied into handing over more money.
"He used their cash to fund a lavish lifestyle with luxury trips abroad on first class flights, however it all came to an end when he attempted to come clean with the lie that he had lost their money through human error by clicking the wrong button in an online bet, when in fact he had lost it gambling."
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