Nick King, 38, of Eyam, Derbyshire, declared guilty to three counts of robbery and certainly one of fraud by false representation. A South Yorkshire police man said he had torn his circle of relatives apart and spent their cash on holidays, designer clothes, and shooting trips. The man stole 600k Euros from family to fund a lavish lifestyle.
He became jailed for six years and four months at Sheffield Crown Court.
Man Stole £600k From Family to fund a lavish lifestyle- More from Yorkshire
King, previously of Sheffield, was given £370,000 in 2010 from the sale of his grandmother’s home to put money into bonds for her kids and grandchildren, police said.
It came after bonds he had in advance installation with his grandmother’s financial savings, worth £140.000 and £280,000, had done well.
Det Con Paul Douglas, of the force’s economic crime research unit, said King’s circle of relatives had grown to be concerned when tax government questioned the bonds.
“His mother referred to him like that, and after asking what was going on, he replied, ‘Mum, you’re now not going to love this, but I’ve spent the money, and by no means funded the cash from the sale of Granny’s house’,” he stated.
King, who ran his own business, instructed his mother he had also all started to spend money from the original bonds, he added. He additionally spent £20,000 of his mom’s inheritance from his grandfather, £10,000 of his brother’s savings and £35,000 from a family friend.
“Stealing his family members’ money in this way became the remaining betrayal,” Det Con Douglas said.
“He frittered it away on a rich lifestyle he could not afford, treating himself to various exclusive holidays, designer clothing and days out at a distinctive shooting range in North Yorkshire.
“King’s offending has torn his family aside, and they have all located it extremely hard to come back to phrases with the reality they were lied to for years.”