A fraudster posed as a millionaire and scammed rich friends and relatives out of more than £420,000 by persuading them to invest in his fake designer handbag business, a court heard today.
Jack Watkin, 26, allegedly promised his victims a share of the profits if they loaned him cash to buy and sell expensive Hermes bags.
But Chester Crown Court heard neither the handbags or any profit ever materialised and instead Watkin used the cash to fund his extravagant lifestyle.
When his victims started demanding their money back, Watkin made up excuses, failed to turn up to meetings or tried to offer them fake watches or less valuable handbags in return, it is alleged.
He was caught when two women he allegedly scammed lured him to a meeting - where police arrived and arrested him.
