Darryl Evans, of Green Court Crescent in Tenby, convinced friends and acquaintances to make high value payments which he said he would put into investment schemes on their behalf.
In reality, he was out of work and funding his own lifestyle.
Following a thorough investigation by Dyfed-Powys Police’s Economic Crime Team (ECT) the 62-year-old was charged with 26 counts of fraud, and one of theft.
He has now been jailed for eight years.
ECT manager Paul Callard said: “What Evans did was a gross breach of his friends’ trust. He lied about his profession to gain their respect and confidence, before taking their money on the agreement it would be invested for their benefit.
“While they thought they would profit from this investment, Evans was keeping the money for himself – although despite a number of financial investigations there is no evidence to show what he was spending it on.”
Evans criminal behaviour came to light in 2018, when his victims failed to receive any money from the ‘investments’ and their suspicions were raised.
As police enquiries developed, it was established that a number of people had been affected by his dishonest scheme, and Evans was arrested on suspicion of fraud.
Following a lengthy trial in December 2023, he was found guilty of 26 charges of fraud, and one of theft, with HHJ Judge Thomas describing him as ‘one of the most dishonest’ men he had ever met.
He was sentenced to eight years in prison for causing the loss of £377,000 on January 5, 2024.
HHJ Judge Thomas praised the work of the Economic Crime Team, highly commending officer in case Dawn Jones in particular for the quality of her investigation.
Mr Callard said: “This was a complex investigation, exacerbated by difficulties in working with a number of complainants, and delays posed by the Covid-19 pandemic.
“However, our team was committed to getting justice for those involved, and this is an excellent outcome to end the investigation.
“I’d like to echo the judge’s commendation of Dawn’s work – her effort at every stage was exceptional, and has ensured the whole extent of Evans’ actions was brought to light.”
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