Southend Man Jailed Over £1.5 Million Con

11 February 2016, 06:51

Andrew Rayner

A man from Southend has been jailed for five years after conning friends out of £1.5 million.

52 year-old Andrew Rayner, from Barling Road, said he could invest their cash and make them more money.

He claimed he was investing in a scheme with bookmakers BetFair, however he actually only ever invested a small amount of money.

Instead the rest went to pay off earlier investors and to fund a lavish lifestyle for him and his wife Julia.

Dc Ian Bloomfield of the Kent and Essex Serious Crime Directorate, said: "Andrew Rayner has ruined the futures of many families by callously taking over £1,500,000 from his close friends and although they received some money back from the Ponzi scheme their combined losses amount to £783,000.

"He made grandiose promises of returns he was not ever capable of fulfilling in order that he and his wife Julia could live a very comfortable life to which they believed they were entitled, even though neither had jobs and had a history of debt.

"I hope they reflect on what they’ve done to these people whilst the serve their punishments".

His wife Julia, who is 49, was given a nine month sentence suspended for 18 months for money laundering. She has also been told to do 200 hours of unpaid work.

Amanda Holden Spills The Beans On Her Relationship

Amanda Holden Reveals She Has 'Always Loved' Simon Cowell

Scarlett Moffatt Opens Up About Her Split

WATCH: Scarlett Moffatt Reveals How She Is Coping With Her Break Up

Rachel Riley left red faced

Rachel Riley Left Blushing After Rude 8 Letter Word Appeared On Countdown!

Mel Sue Mary Berry

Mel And Sue Will Reunite With Mary Berry For A Christmas Special