North West Regional Organised Crime Unit
 

Operation Bay

Two convicted fraudsters have been jailed total of 8 1/2 years after Preston Crown Court heard they had swindled 128 investigators out of £5 million.

Judge Cornwall QC jailed 67-year-old Terry Warrington from Morecombe in Lancashire to 4 yrs 6 months. Warrington had pleaded guilty last July to all offences (fraudulent trading, carrying on a regulated activity without being registered or authorised, and theft).

Malcolm Barber, aged 70, of Wallasey in Merseyside was handed a sentence of 4 years Barber had denied the offences but was found by a jury last November.

The pair were investigated by the regional asset recovery team within Titan, the North-west's regional organised crime unit.

Detective Superintendent Jason Hudson, head of operations at Titan, said:

"Terry Warrington and Malcolm Barber are fraudsters who promised the earth to people but delivered very little.

"Their investors were often people enjoying the later stages of life who wanted to make the money that they had earned from a lifetime of hard work and financial prudence last a little bit longer.

"It was a classic case of the defendants 'robbing Peter to pay Paul'. Despite having a £2m black hole in their finances and being insolvent, they continued to dupe investors into handing over more cash for the promise of returns that were never going to be achievable.

"Both men are responsible for a great deal of heartache and financial devastation suffered by dozens of people from both Merseyside and Lancashire, including some who regarded Warrington and Barber as their trusted friends.

"This case highlights the dangers people can leave themselves open to at the hands of predatory conmen like Malcolm Barber and Terry Warrington who care only about getting ahead in life themselves and not about the ruined lives they leave in their wake.

"I would like to thank my officers in our asset recovery team who worked tirelessly on this investigation and also the financial experts and Crown Prosecution Service lawyers for their expertise and professionalism during what has been a long and complex case.

"I would urge the general public to be mindful of getting involved in investments such as the ones touted about by Barber and Warrington - it is seems almost too good to be true, it probably isn't.

"Always carry out due diligence and make the neccessary checks with the appropriate regulatory bodies and watchdogs before investing your hard-earned money with anyone."

To find out more about how to protect yourself against fraudsters and other scams and online crime visit www.titanrocu.org.uk and follow the 'Protect Yourself' link or visit Titan's You Tube page.

Convicted

Malcolm Barber

Malcolm Barber

4 yrs

Terry Warrington

Terry Warrington

4 yrs 6 months