A fraud case involving 30 victims and £434,043 investments has today, Monday, January 21, concluded with five men being jailed for a total of 11 years and six months.
· Rakeem Dixon, 25, of Paddock Mead, Harlow, received 18 months for money laundering following a trial.
Radford-Mathurin was the last person out of a group of 12 people to be convicted for his role in scams that date back to 2015.
We received complaints in 2015 from investors who had been defrauded out of significant sums of cash by two companies.
They were cold called by people working for Bridgewater Associates Ltd and RSD Assets Ltd, who claimed to make profits in the sale of coloured diamonds and online binary products.
These companies ran late 2014 and February 2016.
The victims were sent professional-looking brochures, purchase agreements and registration forms, sometimes even before they had agreed to buy.
This scam was given a further air of authenticity by the fact that there is an established company in the USA and the fraudsters had used their logo.
When they invested in the binary options, victims were told that their funds would be traded on their behalf in various different markets, including coffee and currency.
The investors told police that when they spoke to brokers they believed they were talking to the same person but under a different name. When victims made enquiries about their investments, they were often lied to or ignored.
Peter Domokos, 40, of Grove Lea, Hatfield, received 9 months suspended for 2 years and 200 hours unpaid community work for money laundering.