Sammy Kimmence, 25, cried in court on Wednesday as he was jailed for 42 months after scamming two elderly men over nearly £ 34,000 by posing as a financial investor.
He tricked Peter Martin, 91, and Peter Haynes, 81, into persuading vulnerable retirees to let him invest their money for them and then spend it on expensive restaurants, hotels and clothes.
Kimmence, who had denied all charges before a last-minute plea change, was sent to jail on five counts of fraud, totaling £ 33,919.
Judge Timothy Mousley QC gave him 30 months in jail for his deception of Mr. Martin and 12 months for the fraud against Mr. Haynes.
He must serve at least half of that sentence.
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Standing on the quayside at Portsmouth Crown Court, Kimmence, clad in a black suit, spoke only to confirm his name before sobbing during the hearing as his dishonesty was pointed out.
The judge said: “You defrauded two men of large sums of money, both were elderly gentlemen, not a rich man.
“While these men trusted you, you used their money to fund your lifestyle.
“It was a major breach of trust. “
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Kimmence’s victims had been his clients when he worked as a senior trader at Equine Global Sports Limited, a company which was subsequently put into liquidation.
The company received money from clients that it would use to place horse racing bets on their behalf.
After the business closed, Kimmence contacted his two victims and claimed he would continue to invest their money in the same way, but actually used it to fund his lavish lifestyle, paying restaurant bills. and book a hotel in Ibiza.
He also spent their money on nightclubs and on a personalized license plate for his Mercedes, leaving one victim “living on the bread line”.
Prosecutor Mike Mason said: “This was a very nasty fraud against two men that Mr. Kimmence deliberately targeted.
“He targeted them because they were old, they were vulnerable and somewhat isolated.
“It wasn’t something he migrated into from a friendship. It was something he had planned. “
The court heard how Kimmence made several visits to Mr. Haynes and Mr. Martin’s home while he was “treating” them.
Documents sent to victims by Kimmence included false company names and a “fully fabricated” gambling commission number.
These were riddled with errors, including “miscalculated balances” and a misspelling of Kimmence’s name.
Mr Mason said the letters showed “some forethought” because the letters “made these men believe it was an established and credible business”.
Kimmence convinced Mr. Martin to give him his Internet banking password, his credit card and his bank card.
Mr. Mason said, “In other words, he ceded financial control to Mr. Kimmence. It’s as if the fox has the key to the henhouse.
“Mr. Martin considered him a friend until his death, which tells us a little more about the energy he put into caring for these old men. “
Mr Martin’s money was used by Kimmence on vacation in Ibiza, at a nightclub in Essex and for shopping in Waitrose, as well as to pay car payments for his Mercedes Class A, which has a personalized license plate.
The victim impact statement was read in court, which said: ‘I was sometimes very stressed that I now gave £ 1,000 to Sammy, who I thought was investing it for me.
“This whole process with Sammy affected my confidence in people. “
The court heard that, five days after Kimmence’s arrest, he had sent a message to Mr. Martin telling him “to stop the investigation”.
Mr. Haynes, who had a career in the RAF before his retirement, said in a statement: “In one fell swoop, all the savings I have accumulated in my working life were wiped out. My bank account shows zero.
“I am worried sick about my situation and have lost a lot of weight due to stress and worry.
“It is no exaggeration to say that I stayed on the bread line because of his actions and dishonesty. “
Mitigating, Craig Harris said: “There was no need to [Kimmence] to groom these two gentlemen.
“The trust was already in place because he had already managed the accounts they had at Equine.
“I accept that we have benefited from a relationship and the trust that has been built in it over time. “
He said Kimmence had been “castigated in the press and on social media” for “his girlfriend, through no fault of his own, is relatively well known on social media and on TV.”
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The court heard from Kimmence, used one of his victims’ bank cards to withdraw over £ 1,200 for himself and also racked up credit card charges of over £ 1,300.
He also admitted to convincing Mr Martin to transfer £ 22,912 to him on one occasion and £ 400 on another.
He duped Mr Haynes in a manner similar to the sum of £ 7,927.
Mr. Martin, who lived in Havant, Hants, sadly passed away in November of last year at the age of 91 while Mr. Haynes suffers from Alzheimer’s disease.
Simon Clark, senior prosecutor for CPS Wessex, said: “Kimmence acted despicably when he tricked his old clients into believing he had created a new company in which they could safely invest their money.
“The CPS used witness statements, financial records, receipts and cell phone evidence to prove that Kimmence had not invested a single penny of the thousands of pounds he had fraudulently obtained from his victims. “
Kimmence’s sentencing had already been delayed twice: first to June 25, then July 14, then July 14.
In April, during his last court appearance, Sammy was released on bail until his next hearing.
During this court appearance, Sammy changed his guilty plea after previously denying the charges against him.
A judge, recorder Nicholas Haggan QC, warned Sammy during the court appearance in April that he could be sent to jail when convicted.
Dani and Sammy welcomed their first child, a baby boy named Santiago, together in January.