In the first case of its kind in Jersey, Scottish national Andrew Crawford Norman Fleming (47), who referred to himself as ‘007’ in sham business correspondences, was sent to prison on Friday for 12 months by the Royal Court for the elaborate scam that ‘could have threatened the reputation’ of Jersey’s biggest industry.
The court heard how the defendant told a series of lies to senior officials at the Jersey Financial Services Commission – including how he had amassed a fortune of about $500 million, partly due to selling his consultancy business to American investment giants Citibank, Goldman Sachs and Merrill Lynch. The business never existed.
Over a four-week period in 2013, Fleming tried to portray himself as a high-flying businessman with bank accounts holding millions across the globe, as well as a luxury home in Monaco.
He even said that such was his financial prowess his children had been targeted by kidnappers, which led him to hire professionals to delete his online identity.
However, in truth the defendant had no registered home address, had been declared bankrupt in 2010 and had one account in Hong Kong, which contained £4,000.
Analysis of the defendant’s laptop found correspondence with a law firm in the UK which seemed to suggest that Fleming was hoping to make a ‘large profit’ from a business venture in Hong Kong that was related to the deal to buy the trust, the court heard.
Evidence gathered from texts between Fleming and a lawyer for the English firm showed that the defendant referred to himself as ‘007’ and the lawyer signed off ‘MP’ for Moneypenny.
Crown Advocate Matthew Jowitt said the defendant’s tales ‘flowed thick and fast’ during numerous meetings with financial experts at the Commission.
The defendant had told the organisation that he had the financial capability to buy the trust company for £7.4 million. He also withheld details about his bankruptcy and the Crown said he eventually blamed many of his pitfalls on his ‘estranged wife’.
Barry Faudemer, director of enforcement for the Commission and a former police officer, who was involved in the meetings with Fleming, began to grow suspicious of the defendant’s story and eventually they contacted the police.
Advocate Mark Boothman, defending, said his client realised his actions were unacceptable and asked the court to consider a community sentence as he was trying to turn his life around.
‘He did greatly exaggerate his past financial status but it is my submission that he should be given full credit for his guilty plea.
He added: ‘For the good of this Island the absurdity of his lies were always going to be detected.’
Delivering the court’s sentence, Deputy Bailiff Tim Le Cocq said that if Fleming had been successful the finance industry’s reputation would have been severely undermined.
‘They were not reckless lies they were deliberate,’ he added.
Fleming pleaded guilty to supplying false information to the JFSC. His laptop was also confiscated. It is the first time someone has been sentenced under Article 28 of the Financial Services Law 1998.
Jurats Robert Kerley and Sally Sparrow were sitting on the case.
