Fraudsters jailed over £11million investment scam which targeted elderly victims

A Suffolk fraudster who plundered more than £11million from investment funds intended for elderly care and retirement has been jailed.

Steven Long deceived more than 100 victims across the country, promising to protect their homes, trust funds, and life savings before siphoning off vast sums for his own benefit and to prop up other business ventures.

Between 2008 and 2018, Long orchestrated multiple business ventures under the banner of Universal Wealth Preservation (UWP) and linked companies.

He widely advertised his services by distributing marketing leaflets door to door across large parts of England, including Kent, Essex, Bedfordshire and Hertfordshire.

Potential clients were invited to attend polished seminars and presentations hosted by Long at hotels nationwide.

Thousands of people signed up to UWP services, arranging trusts, wills, and Lasting Power of Attorney agreements, often as part of long-term planning for their relatives.

Vulnerable targeted

Many were elderly or vulnerable and were promised secure, high return investments placed into what were described as ‘ring fenced, risk-free, long-term trusts’.

Victims were exposed instead to devastating financial losses after Long diverted their money into high-risk overseas investments without any consent.

As his business model collapsed, clients were blocked from accessing their own funds. In several cases, money set aside for care home fees disappeared, with some investors losing hundreds of thousands of pounds.

Many victims faced financial ruin, as Long was using their money to bankroll a lavish personal lifestyle, which included timeshares and rentals of multiple properties, holidays in the USA and Dubai, and other expensive purchases.

He also used his ill-gotten gains to financially support those close to him, pay staff salaries and fund unrelated business interests.

Arrests and trial 

Long was arrested by Suffolk Police in April 2018. A lengthy and complex investigation was subsequently led by the Eastern Region Special Operations Unit (ERSOU), which uncovered clear evidence that Long had directly caused losses totalling £11,577,762 to 115 victims.

On 4 March 2026, Long, 59, of Mead Drive, Kesgrave, pleaded guilty at Southwark Crown Court to two counts of fraud by abuse of position, covering a 10-year period.

Long’s business activities were assisted by Simpson, who also faced a charge of fraud by abuse of position.

When a trial was scheduled for Simpson at the same court, he refused to leave his home in Portugal, citing medical grounds, and the trial was held in his absence. A jury found him guilty.

Both men were sentenced on Friday 17 July. Long was jailed for eight years. Simpson, 79, was jailed for five years and four months. 

Commendations for officers

On passing sentence, Judge Gregory Perrins thanked both victims and ERSOU officers (some of whom he instructed to receive commendations) in bringing both men to justice.

He told Long ‘his company had specifically targeted elderly people and people of retirement age. They were not wealthy, but ordinary people who had worked hard all their lives. You knowingly and dishonestly abused the trust placed in you by using victim money for your own ends.’

Simpson was sentenced in absence and HHJ Perrins added: “I have no doubt Simpson assisted in this course of events in an attempt to make a personal profit without taking any risk. Simpson knew better than most to take money from trusts but carried on regardless. Simpson’s motivation, like that of Long’s, was that of simple greed, and he knew new what he was doing was unlawful.”

Detective Chief Inspector Rob Burns, of ERSOU’s Serious Economic Crime Team, said:

“This was a cold-blooded betrayal of trust on an enormous scale, driven by Steven Long. He lured victims in with slick promises of financial security, then helped himself to money meant for retirement, care and family futures. "Others assisted along the way, but Long was the ringleader - calling the shots, pocketing the profits and leaving more than a hundred victims staring at financial ruin. "His sentence reflects the enormous damage he caused and the greed at the heart of this fraud.”

The case will now be subject to further investigation under the Proceed of Crime Act