A man who posed as a legitimate investor has been sentenced to five years and 11 months in prison after defrauding a woman of more than £400,000.
Kieran Pascal, 45, of Enfield, was sentenced at Guildford Crown Court on 15 April following a lengthy investigation into the fraud, which was first reported in 2019.
The court heard that in July 2017, the victim, a woman in her 40s, was introduced to Pascal through a mutual friend. The pair initially spoke regularly by phone, discussing business opportunities and investments.
Pascal falsely claimed to be a computer programmer and experienced investor, presenting himself as highly knowledgeable in finance. At the time, the victim owned her own business and was planning to sell it so she could focus on her family and invest the proceeds.
Pascal provided a written contract which promised guaranteed returns over several months and made no reference to any financial risk. Believing the arrangement to be legitimate, the victim transferred £154,521 to Pascal’s bank account in November 2017.
In 2018, after selling her business, the victim was contacted by another supposed investor who was in fact a friend of Pascal’s. As a result, she transferred a further £250,021 to Pascal.
By January 2019, when no returns had been paid, the victim confronted Pascal. He admitted there had been no other investors and that he had deceived her from the outset.
Although the fraud was reported to police, the victim remained in contact with Pascal until December 2020. He was arrested and interviewed twice in 2019 on suspicion of fraud.
Police enquiries later revealed Pascal controlled nine bank accounts, moving the victim’s money between them. Investigators found large sums had been spent on foreign holidays, online shopping and personal expenses.
Detective Sergeant Hollie Say, who led the investigation, said Pascal had deliberately manipulated the victim’s trust.
She said:
“Pascal engineered a relationship knowing the victim had money to invest. His deceit caused extreme emotional and financial harm, and the victim continues to need mental health support.”
She added that the fraud left the victim unable to financially support her family and expressed hope that the prison sentence would help her begin to rebuild her life.
Anyone who believes they may have been a victim of fraud is encouraged to seek advice and support through Surrey Police’s fraud guidance services.
