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Conman caused heartache and financial devastation

<Digimax S1030 / Kenox S1030>

They thought he was their friend and trusted him with all the money they had in the world.

Now a conman who defrauded investors out of millions of pounds should be jailed for the rest of his life, his angry victims told The Visitor.

Terry Warrington promised trusted friends good returns on their investments knowing they would never see their money again. His victims, most of whom are elderly and some who invested their life savings and redundancy payouts, are now devastated.

They include Trevor and Sandra Lyne, both 68, of Heysham, who invested a total of £30,000 with Melbrook Insurance, following advice from Terry Warrington,

Trevor said: “We got friendly with Terry in 1980 and started investing money. Both our investments were due in 2007 and we were looking to withdraw them. Terry came to our house three times and told us he was having a bit of trouble raising the cash, but he would pay it out of his own pocket. We are still waiting. The police contacted us in 2009 saying they were investigating Gentry and Melbrook so we left it with them.

“The worst bit is we used to go out with him for meals . It’s embarrassing and I feel like he took us in. We can’t believe that he has done this because we trusted him with our investments.

“I want him to spend the rest of his life in prison because he has gone against other people’s human rights.

“He has taken advantage of friends around him, normal hard working people, who saw him as a friend. I hope he gets 30 years.”

An elderly couple from Morecambe who lost over £100,000 have been left devastated both financially and physically.

They said: “We are not going to get a penny. We trusted him for years and we can’t believe that someone like him has conned us. We hope he gets his just desserts and he should be locked up for the rest of his life.It’s had an impact on our health, with sleepless nights and nightmares . That money was to help the family and give us something to fall back on and that worries us more than anything.”

Terry Warrington, of Michaelson Avenue, Morecambe and Malcolm Barber, 70, of Links Views, Wallasey, were convicted at Preston Crown Court of defrauding 128 elderly investors out of a total of more than £5 million.

Detective Constable Stuart Haigh from Titan’s regional asset recovery team (RART) said: “Terry Warrington and Malcolm Barber are fraudsters who promised the earth to people but delivered very little. It was a classic case of Warrington and Barber ‘robbing Peter to pay Paul’ and, despite having a £2m black hole in their finances and being insolvent, they continued to dupe investors.

“Both men are responsible for a great deal of heartache and financial devastation suffered by dozens of people from both Merseyside and Lancashire, including some who regarded them as their trusted friends.”

Terry Warrington and Malcolm Barber are due to be sentenced at Preston Crown Court on January 17, 2014.

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A pensioner says her life has been ruined after she lost £40,000 she had invested with a fraudster.

The woman, who does not wish to be named, invested the money with Terry Warrington of Michaelson Avenue, Torrisholme.

Her husband met Terry Warrington through the Freemasons and attended meetings in Morecambe and all over Lancashire with him.

She said: “It’s completely ruined my life.

“I invested and reinvested money in bonds but I had no idea he had stolen the money.

“I needed some money to buy a special chair for my granddaughter who was seriously ill and that’s when it really started. I pleaded with him for money but found out I’d lost all my savings.

“I’ll never forget what’s happened.

“I can’t deal with the fact that there isn’t any money.

“We are mortgaged up to the hilt with no chance of ever getting any money back.

“I want him putting away for a very long time but that won’t happen, it won’t fit the crime.

“Whatever he gets he has ruined my life, he has destroyed me. I go for counselling now. I’m just so angry but how many other lives has he ruined?

“It’s a big mess but we’ll try and get over it the best we can. We were duped like all the others.”

 

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