Richard Templeton, 61, of Alicante, Spain, pleaded guilty to conspiracy to commit fraud and was sentenced to two years in prison on June 1, 2022, at Leicester Crown Court.
City of London Police Detective Constable Jamie Howden stated:
“Templeton pretended to be someone else in a cold-hearted, feeble attempt to lure the victim into a serious financial loss, knowing he’d already been significantly defrauded, resulting in a life-changing turn of events.”
“The victim was targeted because of his age and financial situation, and this case serves as a sad reminder to us all of the lengths people will go to destroy the lives of others.”
“I hope that the conviction in this case provides some reassurance and closure to the victim, as well as raises awareness of this type of fraud among others.”
The victim, an 86-year-old man, had previously been duped into investing £4 million in wealth management companies in 2016 and 2018. His initial investments yielded modest returns, and he was encouraged to invest larger sums before the people who had contacted him vanished.
Templeton contacted the victim in 2018 and claimed his name was Richard Armstrong and that he worked for a company called Bradley Consulting Group.
Templeton developed a rapport with the victim and informed him that he could withdraw his previously invested funds, which he claimed were in a hedge fund in Hong Kong, but he would have to pay a penalty and late payment charges of £67,000.
Fortunately, the victim did not hand over any money because officers were able to intervene.
Templeton was discovered to be living in Spain during the investigation, but he travelled to the UK to visit family in December 2021. Templeton was arrested by City of London Police officers on December 30, 2021, as he attempted to board a flight from East Midlands Airport to Alicante, where he had been residing.
During his police interview, Templeton denied knowing anything about the fraud and claimed that he had never used any aliases, including Richard Armstrong’s. He also told officers that he believed he had been set up.
The day after his arrest, Templeton was charged and remanded in custody. He initially pleaded not guilty, but three days before the start of his trial, he changed his plea to guilty.
