Business scammer jailed after 'devastated' family loses £171,000 in Ascot

A 56-year-old scammer has been jailed for more than four years after fraudulently taking away a family's life savings in Ascot.

Darren John Crane, also known as Darren Palmer, formerly of Tall Trees Leisure Park, Gull Road, Cambridgeshire was handed a four-year and four-month jail sentence at Reading Crown Court on Thursday, February 6.

The sentencing relates to fraud offences between June 2021 and December 2021.

Crane persuaded a single mother with two children and her family to invest £171,000 in his company.

This sum was the family’s life savings and large loans Crane persuaded the woman to take out.

Crane convinced these victims that he was an experienced trader in precious metals and gold and guaranteed them large returns.

However, he lost the money through trading, gambling and funding a luxury lifestyle.

He also obtained credit from lenders without informing them he was bankrupt, which is illegal.

Crane was charged in November 2023 after an investigation was launched in April 2022.

He pleaded guilty to three counts of fraud by false representation and engaging in trade while bankrupt, contrary to the Insolvency Act 1986.

Investigating officer Detective Constable Kara Reed of our Economic Crime Unit said: “Crane is a dishonest individual and I am pleased he has been sentenced for his crimes.

“His actions have devastated a family and taken their life savings and left them in a very difficult situation.

“I would like to thank the victims in this case for reporting to us and also supporting our investigation through what has been a very difficult time for them.

“I hope this case shows that fraud is taken seriously and we will investigate and bring people like Crane to justice.”