Two jailed after elderly Bedfordshire victims conned out of millions
A man who stole more than £11million from investment funds meant for elderly people across the country, including Bedfordshire, has been jailed.
Steven Long deceived more than 100 victims, promising to protect their homes, trust funds, and life savings before siphoning off vast sums for his own benefit and to prop up other business ventures.
Long orchestrated multiple business ventures under the banner of Universal Wealth Preservation (UWP) and linked companies between 2008 and 2018.
He advertised his services by handing out marketing leaflets door to door in Kent, Essex, Bedfordshire and Hertfordshire.
Many were elderly or vulnerable and were promised secure, high return investments placed into what were described as ‘ring fenced, risk-free, long-term trusts’. Victims left with devastating financial losses after Long diverted their money into high-risk overseas investments without any consent.
Long was arrested by Suffolk Police in April 2018. A investigation by the Eastern Region Special Operations Unit (ERSOU) found evidence that Long had directly caused losses totalling £11,577,762 to 115 victims.
Long, 59, of Mead Drive, Kesgrave, pleaded guilty at Southwark Crown Court in March to two counts of fraud by abuse of position, covering a 10-year period.
Long’s business activities were assisted by Raymond Simpson, who also faced a charge of fraud by abuse of position.
Simpson refused to leave his home in Portugal, citing medical grounds, and a trial was held in his absence. A jury found him guilty.
Long was jailed for eight years and Simpson, 79, was jailed for five years and four months today (July 17).
Simpson was sentenced in absence and HHJ Perrins added: “I have no doubt Simpson assisted in this course of events in an attempt to make a personal profit without taking any risk. Simpson knew better than most to take money from trusts but carried on regardless. Simpson’s motivation, like that of Long’s, was that of simple greed, and he knew new what he was doing was unlawful.”
Detective Chief Inspector Rob Burns, of ERSOU’s Serious Economic Crime Team, said: “This was a cold-blooded betrayal of trust on an enormous scale, driven by Steven Long. He lured victims in with slick promises of financial security, then helped himself to money meant for retirement, care and family futures. Others assisted along the way, but Long was the ringleader - calling the shots, pocketing the profits and leaving more than a hundred victims staring at financial ruin.
"His sentence reflects the enormous damage he caused and the greed at the heart of this fraud.”