Mark and Lee Chapman jailed for Devon pensioners swindle

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image copyrightDevon and Cornwall Police
image captionLee Chapman was found guilty of four counts of frauds and jailed for two years

Two brothers have been jailed for fleecing pensioners out of their life savings in a fake investment scam.

Mark and Lee Chapman defrauded elderly investors in Devon out of £250,000, Exeter Crown Court heard.

The brothers convinced victims they would make a fortune out of a business selling Marylebone Cricket Club (MCC) branded whisky.

But instead they paid off their mortgages and bought a £30,000 Porsche and a new Range Rover.

The company produced faked documents and a false prospectus to lure in people who were told of huge contracts.

'Staggering dishonesty'

In reality, the company never paid the £150,000 fee to use the MCC name but carried on using the name until the MCC threatened to take them to court.

The brothers sent a newsletter to investors promising a £6m turnover at a time when the company could not even afford to pay its accountants.

Mark Chapman, 52, of Twyford, Berkshire admitted fraud half way through his trial and was jailed for two years and eight months.

Lee Chapman, 50, of Merton, near Torrington, Devon, was found guilty of four frauds and jailed for two years.

Judge Geoffrey Mercer told the pair: "You embarked on this company with genuine intentions and thought you had ideas and contacts which gave it good prospects and hopes it might take off, but from a relatively early stage you ran short of funds to live on.

"When it did not progress as you hoped and the MCC contract was cancelled, you both resorted to dishonesty, at times quite staggering dishonesty."

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