Foreign exchange fraud: Camden FX boss Wayne Watkins jailed for stealing £90,000 of customers' holiday money
PUBLISHED: 18:33 08 November 2019
A Camden Town fraudster who nicked the holiday money of customers at the foreign exchange business he ran in Parkway in order to feed drink, drugs and gambling addictions has been jailed for 28 months.
Wayne Watkins, 47, took over the Camden FX business form his father and promptly used it to defraud 76 people of around £90,000.
The company offered a service taking cash transfers as orders for international currency which would then be delivered by courier. But rather than delivering, instead Watkins would, the court heard, use the cash to fund his addictions.
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He was convicted of fraud by false representation after he changed his plea to guilty before the case went to trial.
Sentencing, Judge Saraj Munro QC described the victim impact statements provided to the court as "tragic reading".
Afterwards, the Met Police's Det Const Simon Ardeman said: "Dozens of people were defrauded by Watkins. I hope that this sentence gives the victims, who endured considerable financial loss, stress and inconvenience, a sense of justice."