Two men from Derbyshire have been sentenced to prison for orchestrating a £9 million investment fraud that targeted family members and friends over six years. Andrew Bird, 60, of Quarndon, and Christopher Walton, 67, of Kilburn, were convicted of fraud by false representation and conducting unauthorised regulated activities.
The fraudulent scheme, which spanned from 2016 to 2022, involved Bird and Walton convincing their victims to invest in non-existent or high-risk financial ventures. The pair exploited their personal relationships to gain the trust of their victims, many of whom were family members and close friends, promising significant returns on their investments.
Andrew Bird received a sentence of eight years in prison, while Christopher Walton was sentenced to seven years. Both men were found guilty after a thorough investigation that revealed the extent of their deceit and the financial devastation caused to their victims.
Judge Eleanor Turner, who presided over the case, condemned their actions as “calculated and callous,” noting that their scheme not only caused significant financial loss but also emotional distress to those who trusted them implicitly.
Prosecutor Mark Harris detailed how the men operated without the necessary authorisation to conduct regulated financial activities. Bird and Walton preyed on the trust and relationships they had built over years, using their victims’ faith in them to facilitate their fraudulent activities,” Harris said.
The court heard testimonies from several victims, many of whom described the severe financial impact and betrayal they felt upon discovering the fraud. One victim, who chose to remain anonymous, said: “I trusted them completely, and they took everything I had saved for my retirement.
The Financial Conduct Authority (FCA) played a crucial role in the investigation, working alongside local law enforcement to uncover the full scope of the fraud. In a statement, the FCA warned the public to remain vigilant and ensure that any investment opportunities are conducted through authorised and regulated channels.
Detective Inspector Sarah Collins, who led the police investigation, said: “This case highlights the devastating impact of investment fraud. We hope the sentences handed down today serve as a deterrent to others who may consider engaging in such fraudulent activities.”
Both Bird and Walton have been ordered to pay back a portion of the money they defrauded under the Proceeds of Crime Act, though it is acknowledged that the full amount may never be recovered.
The sentencing brings some measure of justice to the victims, though many continue to deal with the aftermath of their financial losses. Authorities continue to urge anyone who believes they may have been targeted by investment fraud to report their concerns to the FCA or local police.
