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Callous fraudster ordered to pay back just £1 after conning friends, colleagues and ex-partner out of £113k
05.05.2022 - 09:05 / manchestereveningnews.co.uk
A callous fraudster has been ordered to pay back just £1 after conning his friends, colleagues and ex-partner out of £113,513 in a fake investment scheme. Matthew Normyle, 41, invited seven people to invest in his boiler business, which he claimed would ensure them modest returns after 90 days, whilst he was living in Rochdale.
However, he repeatedly came up with excuses when he was due to pay them back, and his investors were left massively out of pocket, Manchester Crown Court heard. Over the course of two-and-a-half years, he took a total of £113,513.26. He did pay back one friend to the tune of £10,000 as they had fallen into financial difficulty, but that was shy of £15,000 of what they had already given him.
Normyle, of Lord Street, Morecambe, was jailed for two years and 10 months in January this year after pleading guilty to eight offences of fraud by false representation. Now, following a Proceeds of Crime Act hearing, he has been ordered to pay back just £1.
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At today’s short hearing (May 4), the benefit figure was recorded as £113,513, and a confiscation order was made to the sum of £1 due to Normyle’s limited available assets.
At the previous hearing prosecutor Claire Thomas detailed each victim who had been affected by Normyle’s offending. The first was Stuart Smith who had known Normyle since 2012 and believed they were ‘good friends’.
After moving in with Normyle in May 2018, he was offered an investment opportunity as Normyle ‘knew he had £10,000 having sold his bar abroad’. Normyle advised that he purchased boilers and sold them to Jones Homes under his business, which he called ‘Elite Heating’.
“There were
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