A PAIR who swindled people out of their pensions, inheritances and life savings in a betting scam have been jailed.
Simon Reynolds, 64, from Flansham, and his nephew Ian Reynolds, 52, have been sentences for a combined total of nine and a half years.
It followed an investigation into the pair ‘s online spread betting investment fraud, known as Sporting Profits.
They claimed to provide expert advice relating to various sporting events worldwide.
Between 2008 and 2012, they caused the loss of more than £4.8 million for more than 100 victims across the UK and abroad, including 25 from Sussex.
The pair operated two companies during this period, providing profits statements to investors which falsely indicated that their investments had grown.
Detective Constable Jon Moore said: “The scheme was set up by Simon Reynolds who claimed to have a tried and tested system to make money on the betting exchanges which…