Fraud mastermind whose gang pocketed £1m is jailed

A £1m Ponzi scheme mastermind whose gang targeted scores of victims has been jailed for five years and six months.

James Gillingham and his brokers, who used aliases inspired by films and TV shows, used cold-calling tactics to pressure and mislead more than 60 people into worthless or non-existent investments.

On Wednesday at Southwark Crown Court, the 38-year-old, who had been living in Singapore but previously had businesses in Shenfield, Essex, pleaded guilty to fraud, money laundering and perverting the course of justice.

One of his victims, who invested more than £35,000, said: "The investment was supposed to be our lifeboat, instead it was our Titanic."

Another, who lost more than £3,000, said he felt "terrible" after recommending the investment to his family, who also lost savings.

A different victim said that losing more than £45,000 had set their life back by five or six years.

The largest amount taken from a single victim was £133,900.

Brokers guaranteed monthly returns of between 0.5% and 5%, using pleading tactics and accusing reluctant victims of wasting traders' time.

Some brokers used the names of TV characters, including Harvey Specter from Suits and Jonathan Hart from Hart To Hart.

Gillingham, whose previous addresses had included Hyde Park Gate, Kensington, also claimed to have offices in Canary Wharf and the Gherkin in London.

By October 2016, investors could no longer access their accounts or contact staff.

Gillingham fled the country in 2016 to avoid justice.

He was later deported by the Singaporean authorities and was arrested at Heathrow Airport on 15 August 2025 by City of London Police officers.

The force's analysis revealed that the £1m was paid into a "Ponzi" scheme.

This means the fake "dividends" paid out to existing investors were, in reality, money from new investors. This was £167,681 in total.

Judge Martin Griffith said: "As a Ponzi fraud there was a need to attract further investors to allow sums to be repaid to keep original investors sweet."

The judge told Gillingham: "I consider that it was your fraud and you handled the money."

About £650,000 was used to pay staff, including £200,000 to Gillingham himself.

About £170,000 went towards office costs and other running expenses.

More than £70,000 was paid to Sujanthan Sotheeswaran, described as Gillingham's "lieutenant", who was jailed for three years in 2024, along with two other fraudsters.

Denis Deegan was sentenced to 32 months and Darren Peck was given 21 months, suspended for two years.

Kate Hurst, from the Crown Prosecution Service, said the sentencing had brought "one chapter to a close", but victims were still living with the consequences.

She added: "We will continue to pursue Gillingham to recover any criminal assets he has, with the intention that where possible it can be passed on to the victims as compensation."

Financial investigator Hayley Wade, from the City of London Police, said Gillingham had been the "driving force" behind a "sophisticated investment fraud".

She said it showed the force would pursue fraudsters "no matter how long it takes", adding: "Promises of guaranteed returns should always be treated with caution."

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