13years after fleecing OAPs out of £2.8m
AN ex-bouncer who targeted elderly investors in a £2.8million fraud has been jailed for 13 years.
Michael Nascimento, 41, funded a luxury lifestyle as he led a gang of cold callers selling shares in a bogus luxury villa site in Madeira.
Many pensioners promised fortunes were left penniless after losing their retirement savings.
Judge Christopher Hehir said Nascimento devoted four years to the “pursuit of riches through fraud”.
He used his “gifts of charm and intelligence” in a “repellent” scam, finding people with alcohol and drug problems to do his dirty work, the judge said.
Nascimento, of Chislehurst, Kent, was convicted at Southwark crown court of fraud, perverting justice and money laundering.