Simon Madgwick Biography Simon Madgwick Wiki
Cheater Simon Madgwick stole nearly £ 54,000, mostly from seniors, to fund victims of his gambling addiction, but financial investigators found he no longer had wealth.
The fraud, which duped retirees with tens of thousands of pounds of tax fraud, no longer has property in its name, the court heard.
Simon Madgwick stole nearly £ 54,000 from elderly victims, promising to give them significant tax breaks up front.
But Madgwick only used seniors’ money for gambling.
Last month, the 34-year-old was sentenced to two years in prison. The judge condemned the “cynical and ruthless” way in which he “exploited” his victims.
Madgwick returned to Swansea Crown Court this week for a hearing on the Code of Criminal Procedure.
Tom Scapens Financial Investigator Searched
The defendant’s bank accounts and found no funds. The lawyer asked the court to order the confiscation of 1 pound, which it did.
The defendant has 28 days to pay a pound or an extra day in prison.
Since 2015, Madgwick has launched a “long criminal campaign” to dupe people with an upfront payment that promised to give homeowners huge tax breaks, sometimes hundreds of thousands of pounds.
The victims did not hear from him again or he would train them and ask for more payments so they could file complaints. As part of this stunt, he forged letters and emails believed to have come from the government appraisal office and the prestigious Swansea law firm.
In all, he betrayed £ 53,870 of his victims, one of whom was a 93-year-old man.
Madgwick of Tonner Road in Pentrwchwyth, Swansea, even resumed operations after police arrested him and released him from investigation. He used his mother’s bank account to manage the victims’ money, hoping authorities couldn’t find it.
At his hearing, it was reported that the defendant had been addicted to gambling for a long time and that users had found 2,400 transactions from his bank accounts at online bookmakers and betting sites.
He was sentenced to two years in prison after admitting seven cases of false information fraud and four with the wrong tool.