A fraudster who tricked four victims into paying £159,000 into a sham investment fund which he “greedily” used to fund his lifestyle has been jailed.

Alan Skinner, of Millfield Road, West Kingsdown, was the sole director of Tritex Global Limited when he invited clients to participate in a form of fixed-odds betting - now banned in the UK - known as binary option trading.

Each victim was cold-called and persuaded to part with their money in 2017, having also received an electronic brochure in which they were promised access to dedicated account managers, trading experts and round-the-clock customer service.

They were also granted access to their own dedicated webpage containing figures that supposedly showed how their investments had increased in value, but when they requested to withdraw their money they were given various excuses as to why this was not possible.

A police investigation found none of the money paid into the fund had actually been invested.

Instead Skinner had used it to fund his own lifestyle.

The 57-year-old pleaded guilty to conspiring to defraud those who invested with Tritex Global.

He appeared at Maidstone Crown Court on Friday (April 26) where he was sentenced to two years and seven months.

Speaking after the sentencing, detective sergeant Adam Stallard said: “Alan Skinner set up an elaborate scheme to win the trust of his victims who spent huge sums of money hoping for a positive return on their investments.

“Instead he was greedily spending it all on himself, sparing little to no thought for those he had betrayed and left out of pocket.

“I hope this case serves as a cautionary tale to anyone who considers making investments in the future, especially if you are contacted out of the blue by a company you have never heard of before.

“Never allow yourself to be rushed into making an investment and remember that a legitimate organisation will never pressure you into investing on the spot.

“Always seek advice before making significant financial decisions and use the Financial Conduct Authority’s register to check if a company is regulated.”