Please ensure Javascript is enabled for purposes of website accessibility Evil Plymouth conman plundered £1.2 million from elderly or dying clients | #scams | #elderlyscams – Active Lifestyle Media

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Elderly ScamsEvil Plymouth conman plundered £1.2 million from elderly or dying clients | #scams | #elderlyscams

Evil Plymouth conman plundered £1.2 million from elderly or dying clients | #scams | #elderlyscams

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A shameless financial adviser tricked elderly and sometimes dying clients out of more than £1.2 million over a decade, a court heard.

Unlicensed Mark Jensen, aged 51, befriended customers and vowed to invest their life savings – but spent much of the money on himself.

One of his victims was his own elderly aunt.

Dad-of-two Jensen even attended the funerals of clients and was mentioned in the eulogy at one.

But all the time he was lining his pockets to pay for holidays, gambling or settling his debts, Plymouth Crown Court heard.

The angry son of one of his late victims said in a statement read to a judge: “I feel sick to the bottom of my stomach.

“I struggle to find the words to describe the fury I feel towards Mark Jensen. The word evil springs to mind.”

Another elderly victim said she was worried how she would pay her care home bills after Jensen plundered her savings.

Self-employed Jensen in total defrauded seven clients of £1.24 million, about a third of which he has paid back.

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Police and financial investigators have launched legal proceedings to seize his assets to recompense his victims under the Proceeds of Crime Act.

Jailing Jensen for five years and four months, Recorder David Chidgey told him: “These were unpleasant frauds over the course of about ten years. You took advantage of those who trusted you in a despicable way.

“The money was spent on debts and living expenses. Some of the money was spent on spread betting and some of it went on trips to Thailand and Egypt.”

The judge said that Jensen even charged two sisters he was conning £200 a month for his services.

Financial adviser turned conman Mark Jensen waits outside court with a bag packed for prison
Financial adviser turned conman Mark Jensen waits outside court with a bag packed for prison

Jensen, of Torr Lane, Hartley, pleaded guilty to seven counts of fraud by false representation between 2009 and 2019, in each case claiming he would properly invest the money of clients in financial products for their benefit.

Judith Constable, for the Crown Prosecution Service, said Jensen defrauded clients out of £1,239,896 between 2009 and 2019.

She added that for many years he worked for Prudential as a financial adviser before he became self-employed and set up his own company.

Miss Constable said some of his old clients turned their backs on the Prudential to stick with Jensen.

The barrister said that the fraud only came to light when two elderly sisters who entrusted their investments with him became suspicious because he could provide no paperwork. She added that they contacted the companies, Prudential and Zurich, directly and found that the policies did not exist.

The women contacted the Action Fraud service and then police were called. Miss Constable said Jensen immediately confessed to defrauding them and other victims.

The barrister said that Jensen defrauded one woman out of £354,000 between 2009 and 2014. She added that she and her husband, who had four children, sought Jensen’s advice when he was tragically diagnosed with a terminal illness.

The widow, who does not want to be named, said: “We trusted Jensen to provide financial security, but he was lying to us even as my husband was dying.

“He continued to lie to me for another decade. If he had not been arrested, the children and I would never have known of his fraud.

“He completely duped us. I am shocked at how callously he lied and he continued to lie to me for ten years.”

His aunt, now aged 85, was tricked out of £282,596 between 2016 and 2019.

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She said in a statement read by the barrister: “I am worried that I will not be able to pay my bills, including the care home fees where I now live.

“I find it very hard to accept that a member of my own family could do something like this to me.”

The son of a late client, who has lost his inheritance, spoke of his fury and being sick to his stomach.

He said in his statement read to court: “He attended her cremation as a friend of the family. He was that shameless.”

The court heard that Jensen lost his licence in 2009 or 2010 after an irregular investment – one which did not yield him any money. It is understood he carried on operating under the radar without advertising or registering his company by holding on to existing clients.

Others he took on by word of mouth.

Ali Rafati, for Jensen, said: “Nothing I say is meant to minimise the impact of the offending that has taken place. Lives have been utterly destroyed.

“It may appear that words of mitigation are supposed to brush over the offending which has been described so vividly over the last hour.

“Mark Jensen does not intend my words to lessen the impact of the damage he has caused.

He said that Jensen had made no sophisticated attempts to hide the money he took in specially-created accounts.

Mr Rafati said the defendant not only admitted the offences from the initial complaints but volunteered the names of other victims.

The court heard that Jensen had no previous convictions. The barrister said that £443,000 had been repaid to the victims even before the police investigation. Mr Rafati said that he had two children and two stepchildren but had gone through a divorce.

He added that he supported his extended family even while living in an office. Mr Rafati said that Jensen had done voluntary working helping people with dementia.

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