Diamond fraudsters who raked in hundreds of thousands of pounds from tricking vulnerable customers whilst splashing their cash on cocaine have been jailed for a total of 14 years.
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In total, ten people lost £613,580.
Speaking of the impact of the fraud, Mr Oliver said: ‘These people have no idea of the devastation they have caused to my life – they have knocked me for six. The fraudster was today jailed for conning people into buying diamonds which did not exist
Company records show that only one diamond was ever purchased on behalf of a client of the men- who was billed £10,000 when the actual value of the gemstone was just £750.
Despite this, their website boasted of over 80 years of combined experience in the diamond trade. Two of the fraudsters took huge amounts of cocaine. Alcohol as their outrageous claims of the investment potential of the stones continued.
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‘He accepts that he held the management position ascribed to him by the prosecution.
‘He was a user of cocaine and alcohol – he is now entirely sober and he has become a useful member of society.
‘The period he has been in prison for is the first time he has been sober for ten years.
Sales, who earned £65,000 from the scam, wept as the details of his cocaine and alcohol addiction were read out in court.
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‘My client lived quite charmed life initially. He worked as a salesman for Lehman Brothers.’
But Rogers was beset by personal troubles and ‘he tried to destroy himself using drugs.’
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Rogers, who worked for the company for around three months as a salesman and earned around £30,000. He has expressed remorse that the victims have suffered and are indeed suffering.
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‘The fraudulent trading offered so-called investments in so-called coloured diamonds to unsuspecting members of the public using pressure sales techniques and lies.
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‘Those elderly, vulnerable victims were effectively milked.’
King was said to be the ‘controlling hand’ of the scam.
‘Some of the people who lost out were old. Some of them described the extreme effects that this fraud had on their lives.
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