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| Conman who posed as Goldman Sachs billionaire jailed for $1m fraud | Conman who posed as Goldman Sachs billionaire jailed for $1m fraud |
| (4 months later) | |
| A conman has been jailed for tricking a wealthy woman out of her savings by posing as an international businessman. | A conman has been jailed for tricking a wealthy woman out of her savings by posing as an international businessman. |
| Alistair Stewart, 53, claimed to be a retired Goldman Sachs billionaire when he was living off benefits in a bedsit in Burgess Hill, West Sussex. | Alistair Stewart, 53, claimed to be a retired Goldman Sachs billionaire when he was living off benefits in a bedsit in Burgess Hill, West Sussex. |
| He defrauded real estate agent Nina Siegenthaler, 37, of $1m (£629,795) over six months. | He defrauded real estate agent Nina Siegenthaler, 37, of $1m (£629,795) over six months. |
| Stewart was jailed for five-and-a-half years at the Old Bailey. | Stewart was jailed for five-and-a-half years at the Old Bailey. |
| Judge Stephen Kramer told Stewart: "You have caused her immense psychological as well as financial harm." | Judge Stephen Kramer told Stewart: "You have caused her immense psychological as well as financial harm." |
| Stewart said Siegenthaler's savings would be invested in property while she was living in the Turks and Caicos Islands in the Caribbean, but instead he used the money to fund a lavish lifestyle. | Stewart said Siegenthaler's savings would be invested in property while she was living in the Turks and Caicos Islands in the Caribbean, but instead he used the money to fund a lavish lifestyle. |
| He persuaded her he owned a private jet, yacht and helicopter. | He persuaded her he owned a private jet, yacht and helicopter. |
| Stewart, of Oak Hall Park, pleaded guilty last month to fraud by false representation between August 2010 and January 2011. | Stewart, of Oak Hall Park, pleaded guilty last month to fraud by false representation between August 2010 and January 2011. |
| A further 11 counts of fraud involving four victims were not proceeded with. They were said to have been used to back up Stewart's fantasy, but did not part with any money. | A further 11 counts of fraud involving four victims were not proceeded with. They were said to have been used to back up Stewart's fantasy, but did not part with any money. |
| He spent most of the money on luxury hotels, helicopter trips and a £55,000 Mercedes. | He spent most of the money on luxury hotels, helicopter trips and a £55,000 Mercedes. |
| Siegenthaler was said to have spent a further $250,000 (£154,126) on rented property and other expenses when Stewart visited her after she wired him the money. | Siegenthaler was said to have spent a further $250,000 (£154,126) on rented property and other expenses when Stewart visited her after she wired him the money. |
| He had since repaid $150,000 (£92,470) of the money, said Nathaniel Rudolf, defending. "Ultimately, Mr Stewart is sorry for what he did," he added. | He had since repaid $150,000 (£92,470) of the money, said Nathaniel Rudolf, defending. "Ultimately, Mr Stewart is sorry for what he did," he added. |
| The court was told Stewart had a previous convictions for fraud and a complex mental history. | The court was told Stewart had a previous convictions for fraud and a complex mental history. |
| Benn Maguire, prosecuting, said: "The defendant is a confidence trickster who persuaded the victim to give him money to invest." | Benn Maguire, prosecuting, said: "The defendant is a confidence trickster who persuaded the victim to give him money to invest." |
| Stewart had claimed to have great success but was arrested in his bedsit in March. His only income was state benefits. | Stewart had claimed to have great success but was arrested in his bedsit in March. His only income was state benefits. |
| He had told Siegenthaler he lived in Switzerland and said his wife had died of cancer. | He had told Siegenthaler he lived in Switzerland and said his wife had died of cancer. |
| "He said he intended to purchase an island retreat having been a highly successful financier at Goldman Sachs for more than 20 years," said Maguire. | "He said he intended to purchase an island retreat having been a highly successful financier at Goldman Sachs for more than 20 years," said Maguire. |
| "This employment history was nothing more than a tissue of lies. The defendant created an imaginary life for himself. He presented himself as a financial wizard. Unfortunately, the victim took the bait." | "This employment history was nothing more than a tissue of lies. The defendant created an imaginary life for himself. He presented himself as a financial wizard. Unfortunately, the victim took the bait." |
| She sent him $1m in 2010 believing he would invest it in companies such as BP. Instead, he used the money to finance a luxury lifestyle and enabled him to visit her in the Caribbean. | She sent him $1m in 2010 believing he would invest it in companies such as BP. Instead, he used the money to finance a luxury lifestyle and enabled him to visit her in the Caribbean. |
| He told her he wanted to buy a $6.5m (£4m) property and was also interested in a neighbouring property worth $9m(£5.5m). | He told her he wanted to buy a $6.5m (£4m) property and was also interested in a neighbouring property worth $9m(£5.5m). |
| On receiving the money, Stewart chartered helicopters and stayed at five-star hotels. | On receiving the money, Stewart chartered helicopters and stayed at five-star hotels. |
| He had bought Siegenthaler a £31,000 watch using her own money, said Maguire. | He had bought Siegenthaler a £31,000 watch using her own money, said Maguire. |
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