Paul Henderson has been handed an eight year and nine month prison sentence after scamming over £1m ($1.24m, €1.13m) from 23 victims, according to Northumbria Police.
He was arrested in March 2018 and was subsequently charged with several fraud offences.
Henderson pleaded guilty to two counts of fraud by false representation at Newcastle Crown Court earlier this year on 27 January.
On 20 April, Henderson appeared before the same court and was sentenced to eight years and nine months imprisonment.
Details
Officers from the North East Regional Organised Crime Unit (NEROCU) were first made aware of suspicions around Henderson in 2018.
A team was put on the case and began carrying out an investigation, which included gathering bank account information, document recovery and identifying victims.
It was revealed Henderson had been conducting several fraudulent schemes and using money from new schemes to help sell his others to unsuspecting victims from 2012-2018.
‘Cruel and deceptive’
Following the sentence, Thomas Maughan, detective inspector at NEROCU, said: “Firstly I want to thank victims for speaking up and all their work during the investigation, they have been a big part of securing this outcome.
“Henderson has shown no consideration for the impact his criminal actions has on his victims and how their lives are changed forever. He is a cruel and deceptive man who will now face the consequences of his choices.
“Finally, I urge others looking to invest money to take a step back- if it sounds too good to be true it probably is. Always take financial advice from a trusted professional before investing and parting with any money. People like Henderson are looking to exploit trusting people who have saved and worked hard.”
