Fraudster jailed for swindling friends and associates out of more than £500,000
An Exeter fraudster swindled four victims out of more than half a million pounds of savings, pensions and inheritance – most of which he spent on gambling.
Jamie Drew, 46, of Cottey Crescent in Exeter, appeared at Exeter Crown Court for sentence on Thursday 21 May having pleaded guilty to four counts of fraud.
Drew was jailed for six and a half years.
The court heard that Drew targeted and exploited associates from his friendship circle, convincing them to lend him money which he promised could be paid back immediately.
But he never repaid it and instead persuaded them to repeatedly part with more money through long running stories involving banking issues, suggestions of money laundering allegations, and the risk of losing it all if they told anyone.
The victims each believed their money was trapped but that it would eventually be returned to them. However, records showed that Drew was spending the money as soon as he received it, mostly on gambling.
They were left feeling isolated, and like they couldn’t turn to anyone for help. Long after their money was gone, Drew prolonged their suffering by claiming that he was working with a solicitor to get their money back to delay their inevitable report to police.
After Drew had been arrested for the offences against two of the victims, two more came forward while he was on bail.
The total value of the four frauds was £656,260.
Detective Sergeant Ailsa Mason said: “Jamie Drew presented himself as the good guy and claimed he was working tirelessly to help the victims get their money back - money he was aware he had already spent.
“These offences took place over prolonged periods and cost victims their savings, pensions, and money inherited from loved ones.
“Alongside financial loss, the victims have suffered many months of stress and fear through Drew’s calculated manipulation of them which has resulted in significant emotional and psychological harm.
“We recognise fraud can have a devastating effect on victims and welcome the sentence handed to Drew.
“We hope the victims can now feel some form of closure.”
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