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Brits jailed for 10m Majorca Ponzi fraud
Couple and an accountant receive 18 years for swindling millions from expats in Majorca
Estranged couple John (61) and Linda Hirst (61) and their accountant accomplice Richard Pollett (70) were sentenced last week to a total of 18 years in prison after they were found guilty of conspiracy to defraud and money laundering. The trio had taken millions from expats in Mallorca and used it to fund an extravagant lifestyle in a "Ponzi scheme" they had been running for eight years.
Hirst and Pollett set up the scheme in 2001 and ran it until investors complained to the Serious Fraud Office in 2009. It is estimated that some 120 individuals were defrauded of their money, investing with Gilher inc. Hirst and Pollett told victims their money was invested in the New York stock exchange and DOW Jones. Fake returns were paid out to investors who were promised 20-30% interest on their money.
The court heard how the Hirst's would frequently socialize with their victims at golf courses and crickets clubs in Mallorca using the money they had been given to invest to project a lavish and successful lifestyle to entice more into their scheme. Investors were invited to the couple's wedding on Mallorca in 2006 after the Hirst's had already wed in Las Vegas in a reported £90 000 ceremony.
Hirst had previously been convicted in the 1990's for defrauding Yorkshire miners of their redundancy payments and had moved to Mallorca after he left prison for the £500 000 scam.
Judge Johnathan Durham-Hall QC sentenced John Hirst, who pleaded guilty to conspiracy to defraud and two counts of money laundering before the trial began, to nine years. Linda Hirst was sentenced to two and a half years and Pollett received six and a half years behind bars.
When handing down the sentences Judge Durhanm-Hill told Hirst and Pollett:"You are through and through common criminals. What you did, and what makes this case of the utmost gravity, was brutal, callous and cruel. You are corrupt.
"This was an appalling and shocking course of conduct in which so many were targeted and so many have, in effect, had the remainder of their lives shattered and ruined."
