A man who played a key role in a £4 million investment scam has been jailed
More than 40 victims were scammed after they were offered attractive financial investment returns between 2013 and 2017.
Jonathan Allard, 39 (2.2.84) of Wandsworth, was sentenced to seven years and two months’ imprisonment at Southwark Crown Court on Monday, 22 May.
He pleaded guilty to one count of fraud on Friday, 14 April at the same court.
Detectives from the Met’s Specialist Crime’s Economic Crime Team began investigating the scam in 2016.
In November of the same year, Allard was arrested at a London airport and his house was searched and property seized. Items including a Lamborghini Aventador, 13 Luxury watches and jewellery worth in the region of £340,000 were seized. They also discovered instructions to investment sales staff and draft correspondence to be sent out to victims of the scam.
PC Will Evans, from the Met’s Dedicated Card and Payment Crime Unit, said: “The impact of this crime on the victims is absolutely shocking. Allard masterminded a sophisticated and convincing investment fraud to take advantage of vulnerable victims on a large scale. The money was used to fund a lavish and extravagant lifestyle, showing complete contempt for the victims.
“The Met will now utilise the Proceeds of Crime Act to recover any and all assets held worldwide.”
The investigation spanned many years with officers conducting worldwide enquires, including Hong Kong and Dubai. Numerous victims were contacted and statements obtained, along with hours of work analysing bank accounts and following the money trail.
Detectives discovered many of the 43 victims had been promised investment returns in the region of 9-12% in what was an extremely complicated scam involving an official business being set up in Canary Wharf. The company was called Zurich Private Capital (ZPC) and they offered attractive returns in commodities which included oil and soya beans.
Some of the victims had been persuaded to invest through cold-calling and others by sophisticated marketing material. Other victims felt they were pushed into investing whilst others felt reassured by the apparent legitimacy of the company. Many had been told they had to keep their money invested for a minimum of three years to ensure of the best possible return.
After a while some of the victims became suspicious when they tried to withdraw their money. Those who threatened ZPC with legal action, or who said they would involve a solicitor, were on occasion successful in getting their money returned.
Many however, had their emails and phone calls ignored, Many have lost a substantial amount of money, ranging from £10,000 to hundreds of thousands of pounds.
The impact on the victims has been severe, several victims have since died, one attempted suicide, others have health conditions caused by the stress and others have had to remain in work until they are nearly 80-years-old.
On 29 December 2021 Allard was charged by postal requisition.
Allard benefited financially from the fraud and lived an extravagant lifestyle, calling himself ‘Lord’ Allard. He was living in a rented house in Knightsbridge, paying £6,500 rent per month. He spent hundreds of thousands of pounds on cars and watches.
If you believe you have been a victim of fraud, you should report it to Action Fraud by visiting www.actionfraud.police.uk or by calling 0300 123 2040. If you are in Scotland, fraud should be reported to Police Scotland by calling 101. You should also report fraud to your bank using the phone number on the back of your bank card.
