Fraudster jailed for 12 years over £2million jewellery scam

Summarised from 2 outlets · Updated 14 Nov, 23:01 · Archive

James Charles, 49, has been jailed for 12 years after defrauding more than 20 victims of luxury watches and jewellery worth £2million.

James Charles, 49, from Southwick, West Sussex, has been jailed for 12 years after defrauding more than 20 victims of luxury watches, jewellery and other valuables worth £2million. He was sentenced at Southwark Crown Court, where approximately a dozen victims watched proceedings. Charles admitted four counts of fraudulent trading through his companies Olympia Mayfair and National Gold Buyers. GB News reports he also operated under the assumed name James Goatley and ran additional sham businesses including Kingsley & Co Private Trader Ltd and Richmond & Sterling Ltd.

Charles operated a sophisticated scheme presenting himself as a legitimate dealer. He invested substantial sums in online advertising and search engine optimisation to make his businesses appear credible. He would arrange face-to-face meetings either in temporarily rented London offices or at victims' homes to lend legitimacy to the scam. Clients were persuaded to hand over valuable items, often heirlooms, on the promise of payment minus commission. Instead, Charles sold the goods almost immediately for less than their valuation and kept the proceeds.

Judge Martin Griffith told Charles he had taken goods worth over two million pounds over seven years, never returning them or their full sale value, instead offering 'lies and tales'. GB News reports the scheme ran between August 2022 and 2024 and duped 31 victims in total. Two further offences of fraudulent trading and one count of fraud by false representation were taken into consideration during sentencing.

How it is being reported

• Fraudster jailed for 12 years after scamming £2m in watches and jewellery from victimsA fraudster has been jailed after scamming £2million in watches and jewellery from victims. James Charles, 49, a serial conman from Southwick, West Sussex, has been handed a 12-year prison sentence for orchestrating the fraud. The 49-year-old, of Roman Crescent, was sentenced at Southwark Crown Court after admitting four counts of fraudulent trading. Using the assumed name James Goatley, Charles operated through a network of sham businesses, most prominently Olympia Mayfair, alongside National Gold Buyers, Kingsley & Co Private Trader Ltd, and Richmond & Sterling Ltd. His scheme, which ran…GB News · 14 Nov, 21:53
• Fraudster who tricked more than 20 victims into handing over luxury watches, gold and jewellery in £2million scam is jailed for 12 yearsJames Charles, 49, promised to sell the expensive items, often heirlooms with great sentimental value, for a commission, but instead kept the cash for himself.Daily Mail · 13 Nov, 12:55

In this story: James Charles · Southwark Crown Court · Olympia Mayfair · National Gold Buyers · West Sussex

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