Anthony Kemp, 62, from Birtley, has been sentenced to seven years in prison for his role in an £8 million fraud that targeted more than 350 elderly and vulnerable people. The gang operated over a three-year period, persuading victims to invest in a pyramid scheme with promises of high returns.
Kemp spent investors' money on lavish holidays, business class travel, and a rented luxury home in Auckland, New Zealand. The court was shown photos of his Auckland property, described by estate agents as 'as close to heaven as life on earth permits'. He also enjoyed champagne cruises on the QE2.
Victims were given excuses for delays, including money-laundering regulations after the 9/11 attacks. Kemp moved to New Zealand in 2005, claiming to set up tax-free trusts, but was arrested there in 2015 after similar scams and later extradited to the UK.
Judge Sean Morris told Kemp: 'You duped people out of their life savings and it was remorseless. I have seen nauseating photographs of all the laughs you were having while this misery was inflicted.'
Detective Constable Helen Bell said: 'These people have devastated lives. Some have since died from stress from the fraud contributing to their ill health, while others have lost their homes and life savings.'
