Six jailed after scamming over 150 elderly victims out of £6m in a fake investment scheme.
A ruthless gang of fraudsters has been jailed after conning more than 150 elderly victims out of £6 million in a fake investment scheme. The scammers used high-pressure sales tactics, forged documents, and impersonated professionals to rob their victims of life savings—some losing as much as £250,000 each.
Ringleader David Clarkson, 70, from Blackburn, was sentenced to seven and a half years in prison at Southwark Crown Court on Tuesday. He had previously pleaded guilty to charges of fraud, money laundering and perverting the course of justice.
The remaining five members of the fraud ring—convicted earlier this year following a six-month trial—were also handed prison sentences.
Embed from Getty ImagesAmong them was Lillian Milner, 57, from Rossendale, who was jailed for five years and six months after using her cut of the stolen cash to buy a Porsche. Her husband, Graham Milner, 55, also of Rossendale, received three years and six months for money laundering.
Mark Fallon, 60, another member of the gang from Lancashire, was sentenced to four years and six months for his role in the fraud and laundering of funds. Meanwhile, 39-year-old Anthony Flaton from Hampshire was jailed for five years on similar charges.
David Clarkson’s son, Paul Clarkson, 46, from Clitheroe, received a 20-month suspended sentence and was ordered to complete 180 hours of unpaid work after admitting to money laundering.
The court heard that victims—many aged between 60 and 90—had been targeted with aggressive cold-calling and misleading company brochures promoting bogus investments. Some were befriended by members of the gang, who gained their trust before convincing them to invest. Others said they felt “hounded” into handing over their savings.
Police began investigating the scam in August 2016 after identifying suspicious payments from a firm called Sable Intl Ltd to a newly-formed law practice. Sable posed as a property investment firm and launched a £3.5 million bond scheme promising a 7% return—entirely fabricated.
The trio at the heart of Sable—Clarkson, Lillian Milner, and Flaton—had previously been linked to another failed scheme called Equitable Law Capital (ELC). Both companies eventually went into administration or voluntary liquidation by the end of 2016, owing more than £4 million combined.
Graham Milner and Paul Clarkson were appointed as group directors at ELC, despite having no financial background. Both were later involved in laundering the stolen funds. The gang used overseas front companies in places such as the Seychelles, Switzerland, and Mauritius to disguise the illegal origins of the money.
Fallon, a qualified solicitor, and Lillian Milner also used a newly created law firm to further launder the cash. Flaton, in turn, received commission payments routed through offshore accounts.
Detective Constable Jay Smith of the City of London Police condemned the gang’s actions as driven by “pure greed”.
“These fraudsters stole life savings from hundreds, abusing their trusted positions,” he said. “We remain committed to pursuing those who abuse trust and exploit the vulnerable. Let this case be a warning: you will be found, prosecuted, and convicted.”
More than £2 million of the stolen money has since been recovered with help from bank staff and investigators, though many victims were left devastated.
One victim said in a statement: “It’s increasingly hard to face the day and I rarely sleep well. I’ve lost faith in people. I’ve been left very depressed
