Fraudster jailed over £2m jewellery scam
A man has been sentenced to 12 years in prison for running a fraud operation for two years, stealing more than £2 million.
Sussex Police says James Charles, from Southwick, West Sussex, took jewellery and promised to repair or resell it, only for victims to receive a fraction of what was promised, or sometimes, nothing at all.
The 49-year old, also known as James Goatley changed his plea at Southwark Crown Court on 12 October to guilty for four counts of fraudulent trading, with the judge ordering two money laundering offences to lie on file.
On 12 November he was handed a 12 year prison sentence.
Sussex Police claim between August 2022 and 2024, Charles set up an elaborate scam to pose his company Olympia Mayfair as an established specialist service for reselling and repairing high-value jewellery, watches, and precious metals.
He paid significant sums for search engines to rank his company highly in search results, and went to extensive lengths to ensure that his company was listed on a trusted website, all to make his firm look legitimate and trustworthy to potential customers.
He rented an office space to meet victims, or would sometimes travel to their homes where he would manipulate them into handing over their jewellery, claiming they would be reimbursed once the items were sold or repaired, with Charles taking a small fee as commission.
After his arrest in February 2024 following complaints from people who had been conned, he was bailed and set up another company called National Gold Buyers to defraud further victims.
As a result, he was arrested again in August 2024.
Following his guilty plea, it was revealed Charles had set up two further companies while under investigation, Kingsley & Co Private Trader Ltd and Richmond & Sterling Ltd.
In total including the offences linked to the two extra companies, Charles scammed his victims out of over £2 million.
"The scale of harm Charles has caused to numerous victims cannot be understated," says Detective Constable Graham Gray, who led the investigation.
"Charles' crimes were premeditated, prolific and unremorseful, taking the opportunity to continue offending through multiple new companies as soon as he was able.
"His victims have suffered not just a financial loss, but a devastating emotional impact as a result of his manipulation.
"Today's sentencing reflects the expanse and severity of Charles' offending and the significant impact on his victims."
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