A 49-year-old man has been found guilty of swindling victims out of more than £1 million through an extensive fraud operation conducted through his businesses.
James Charles, who also operated under the name James Goatley and resided at Roman Crescent in Southwick, stole a total exceeding £1,159,000 from multiple victims during a period spanning two years from August 2022 through 2024.
Charles conducted his criminal activities through two enterprises: Olympia Mayfair and National Gold Buyers.
His deception through Olympia Mayfair involved promoting specialist services for the resale and repair of expensive jewellery, timepieces, and precious metals.
The business was promoted on a well-known website to create an appearance of legitimacy, and Charles further invested heavily in search engine advertising to secure prominent placement in online results.
Customers were asked to complete forms specifying the valuable items they wished to dispose of.
After receiving these forms, Charles would reach out to arrange face-to-face meetings either at a rented office space or at the victims’ own residences.
During these encounters, he would persuade victims to surrender their belongings with the assurance that they would receive payment once the items had been sold or repaired, after deducting a minimal commission.
Many of the goods were subsequently sold, yet despite Charles’s commitment to compensate victims and take only a small percentage, numerous individuals received merely a fraction of the actual sale value.
Several victims received no payment whatsoever.
Charles was taken into custody on February 11, 2024.
Owing to the substantial number of complainants emerging, he was granted police bail while detectives carried out extensive inquiries.
During this period of bail, he established a fresh enterprise called National Gold Buyers and persisted in duping and defrauding additional victims.
Charles was apprehended for a second time on August 30, 2024.
Following a detailed investigation by the Sussex Police Economic Crime Unit, Charles faced initial charges comprising 24 counts of fraud through misrepresentation alongside two money laundering offences linked to both enterprises on February 27 of the current year.
After subsequent court proceedings, the numerous fraud allegations were consolidated into four charges of fraudulent trading.
He was held in custody pending trial.
Charles stood trial at Southwark Crown Court over a six-week period beginning on October 5.
On October 12, he admitted guilt to all four charges of fraudulent trading.
The following day, a jury also returned guilty verdicts on the same matters.
The judge directed that the two money laundering offences would remain recorded but not proceed further at this stage.
Charles will remain incarcerated until his sentencing hearing scheduled for November 5.
Detective Constable Graham Gray, who led the investigation, stated that Charles’s criminal conduct was extensive, deliberate, and showed no remorse.
He noted that the breadth of the deception was considerable and the consequences for those affected were significant.
He expressed appreciation to all individuals who contributed to this comprehensive and intricate investigation as the matter approaches its conclusion.