Today (Friday, October 4), three men were sentenced to prison for their role in a series of fraud that cost four victims thousands of pounds in pension savings.

Simon Hooper, 50, of Cheltenham, Martin Kelly, 61 and Ryan Allen, 46, both from Tunbridge Wells, were jailed for more than 15 years at Wood Green Crown Court after being found guilty following a complex four month trial back in May. They were convicted of conspiracy to commit fraud and fraudulent trading. 

The North West Regional Organised Crime Unit (NWROCU) launched an investigation back in 2019 and its officers carried out enquiries on a company called Rationale Asset Management PLC (RAM).

They discovered Simon Hooper and Martin Kelly had created fraudulent investment schemes and persuaded their victims to send monies to them. They employed their associate Ryan Allen, who used his status as an Independent Financial Advisor, to professionally enable the money transfer. The victims had no idea that as soon as the cash was received, the lion's share of the money was transferred directly to the fraudsters to line their pockets and fuel their extravagant lifestyles.  

Detective Inspector Adam Williams from the NWROCU’s Economic Crime Unit said:

“This is a despicable case which highlights the devastating impact investment frauds have on their victims. These ruthless and dishonest men controlled a criminal enterprise that manipulated savers into moving their hard-earned pension pots to fraudulent schemes under their control. More than £170,000 was taken from the victims and diverted elsewhere, where it was used to pay off debt and profit themselves.

"By proactively pursuing Hooper, Kelly and RAM PLC we identified a prospective £2 million fraud. Tackling it an any early stage has prevented further victims in a far reaching scheme that posed a huge risk to the public. By working with partners, including the Insolvency Service and Companies House, we have closed RAM PLC and brought these offenders to Justice.

"Both Hooper and Kelly have received Director Disqualification Orders for 7 years."

Jonathan Kelleher, Specialist Prosecutor for the CPS, said:

“This was a sophisticated and professional fraud which has had a detrimental impact, emotionally and financially, on the victims who were targeted and tricked into investing in a worthless company. 

“The defendants were all regulated people who placed a veil of legitimacy around their criminal behaviour to manipulate victims into trusting them with their hard-earned pensions and savings. They knowingly lied and took money for their own selfish gain, using the funds to pay for their own lavish lifestyles.

“The CPS works closely with police to bring fraudulent offenders like these to justice and we will now be pursuing all three defendants to strip them of their ill-gotten gains.”

Protect yourself against investment schemes

- If you are considering any type of investment, always remember to complete your own due diligence - There is no such thing as a ‘guaranteed risk-free’ investment. High returns can only be achieved with high risk. If you are contacted out of the blue with offers of high returns on investment Stop! Think Fraud.
- Always check the Financial Conduct Authority register before investing, reject unsolicited officers and seek independent, impartial advice as family and friends may be unwitting victims. Don’t let fraudsters pressure you into investing before you are ready to do so.

Visit the Action Fraud website for more advice.