Former Solicitor cons nearly £1.5 million from people through investment scheme

02/05/2017

David Vaughan Jones was sent to prison for a total of six years today at Mold Crown Court. The case was previously adjourned to give the 76-year-old man chance to pay back the money he'd taken.

Jones, of Welshpool, was struck off as a solicitor in the early 1990s by The Law Society which led to him working as a tax consultant, despite not having any qualifications in that field.

He gained the trust of many people in the locality from being a prominent member of the Evangelical Church, persuading them to pay into offshore investments that he would recommend. He would then use the money invested by some people to pay other clients keeping up the appearance that the scheme was legal and profitable.

Nicola Rees of the Crown Prosecution Service said: "David Jones is an educated man who applied his intelligence to running a financial scam. He systematically deceived people into paying considerable sums of money to him.

"He knew from the outset that they were not paying into legitimate investments and he lied to them, using his influence within the community and on occasions as a family friend to maintain the pretence.

"There was a considerable amount of financial records to examine in this case and the prosecution team have worked meticulously to prepare the case for sentence."