Fraudster Jailed After Targeting Octogenarian Investor
Richard Templeton, 61, from Alicante, Spain, has been sentenced to two years in prison for conspiracy to commit fraud. The sentencing happened on June 1, 2022, at Leicester Crown Court.
Cold-Hearted Scam on Vulnerable Pensioner
City of London Police Detective Constable Jamie Howden blasted Templeton’s callous scheme. “Templeton pretended to be someone else in a cold-hearted, feeble attempt to lure the victim into a serious financial loss,” he said. “The victim was targeted because of his age and financial situation, and this case is a sad reminder of the lengths people will go to ruin lives.”
Howden added, “I hope this conviction offers closure to the victim and raises awareness about this kind of fraud.”
Millions Lost in Fake Investment Scheme
The victim, an 86-year-old man, was previously tricked into investing £4 million in fake wealth management firms between 2016 and 2018. After initial modest returns, he was persuaded to sink even more money before those behind the scam disappeared.
In 2018, Templeton contacted the pensioner posing as “Richard Armstrong” from Bradley Consulting Group. He claimed the victim’s money was stuck in a Hong Kong hedge fund but could be withdrawn by paying a £67,000 penalty and late fees.
Police Foil Another Attempt to Scam
Luckily, the victim refused to pay after police intervened. Templeton, caught living in Spain, was arrested in December 2021 while trying to fly from East Midlands Airport back to Alicante.
During questioning, Templeton denied all knowledge of the fraud and claimed he never used the alias “Richard Armstrong,” insisting he was set up. He initially pleaded not guilty but changed his plea to guilty just days before his trial began.
