Fraudster jailed for duping investors

A family of fraudsters trickedinternational investors out of millions of pounds by promising huge returns, a court heard yesterday.

Both private and professional clients were assured of an unmissable opportunity that was risk-free with guaranteed returns of up to 25 per cent a month.

But the Andorra-based family business of Casa de Trustees the clients thought they were ploughing their money into was a front to fund a lavish lifestyle for Jaime and Diane Fabregas and their sons, James and John.

They stole more than £2.5m, which was laundered with the help of shopping expeditions for diamonds and fast cars, Southwark Crown Court in London was told.

James Fabregas, who police believe was about to flee, was the only suspect arrested. His parents and brother had hired a private jet and flown to Spain weeks earlier.

Fabregas, 38, of Morden, Surrey, admitted six counts of conspiracy to defraud and one of money laundering between January 2000 and December last year.

Jailing him for three years, nine months, Judge Elwen told Fabregas, who has two children, that his dishonesty had been aggravated by his "cynical" disregard of a government warning following his bankruptcy in 2000.