Fraudster in £5.4m investment scheme scam jailed for six years

Click to follow
The Independent Online
Peter Barry Maude was yesterday sentenced to six years' imprisonment by Chester Crown Court for his role in a $7.7m (£5.4m) investment scheme fraud.</p>Mr Maude, who pleaded guilty, was convicted in two fraudulent scams. In the first, he and "other persons" offered potential investors "high-yield investment opportunities" aboard luxury Caribbean cruise conferences and in luxury hotels in Mexico.</p>Around 200 people, including a large number of Americans, each invested a minimum of $25,000 in funds managed by Mr Maude named Sabre Asset Management and Jaguar Asset Management, supposedly after his penchant for big-game hunting. The payments were made via an Isle of Man account.</p>A spokesman for the Serious Fraud Office said: "When the money arrived in the accounts, it was extracted by Maude for personal expenditure. He paid for a house in Wilmslow, Cheshire, and bought expensive guns and rifles and also a Range Rover and other vehicles."</p>A UK-based solicitor who was also prosecuted in connection with the fraud, Marshall Ronald, was acquitted by a jury on 24 March.</p>In the other scam, Mr Maude and another man based in the US were involved in a conspiracy whereby a Singaporean businessman was persuaded to invest $1.2m in a similar "high-yield" investment opportunity. The second man is being prosecuted in the US.</p>Mr Maude's sentencing followed a four-year investigation involving the Serious Fraud Office and the US Federal Bureau of Investigation, with support from the Cheshire constabulary. </p>