Gambling Addict Tells Friend He Has Cancer To Steal £ 500,000

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A MAN whose gambling addiction got out of hand defrauded a friend and his financial firm Warrington over £ 500,000.

Peter Saad, from Nottingham, lied to his friend that he had cancer and made up a variety of stories to get the money to pay off loan sharks and other loan companies.

The 32-year-old was jailed at Chester Crown Court last Monday after admitting to three counts of false representation fraud.

Between September 2018 and May 2019, he convinced his friend, chairman and CEO of an investment and credit group in Warrington, to hand over large sums of money for fictitious projects.

The court heard he started by making up a story about his family struggling to pay off their mortgage because of a pharmacy they bought in the United States.

He then made up the story of a loan from a prominent member of a member of the American Church to help pay for pharmacy in America.

When he ran out of funds, he lied to his friend saying he had cancer and forged emails and invented tests and operations he needed money to pay for.

As Saad continued his lies, he convinced the victim to start a pharmaceutical company with Saad as one of the directors. He was forging invoices to get money for work that would never be done and for equipment he had already bought for half the price. It was at this point that the victim’s financial staff became suspicious and her lies began to be exposed.

An invoice was verified with a company who confirmed that they had never been asked to do any work for him and the enormity of his deception began to realize, the cost of the victim’s loss increasing as each lie was discovered. The police were called and the investigation began, with Saad fully admitting his guilt.

He was jailed for 19 months.

Speaking after the affair, DC Lee Ellis said, “Saad has deceived his friends, family and associates with elaborate lies to fund his gambling habit and his debts. He has abused the trust placed in him and is now paying the price for his crimes, leaving those who thought they knew him not only out of pocket by the hundreds of thousands, but also feeling betrayed and hurt by his actions.

David Keane, Cheshire Police Commissioner of Police and Crime, said: “This case highlights what can happen when an addiction gets out of hand, whether it’s drugs, gambling or gambling. alcohol. We want people to admit their addiction before it’s too late so they can get the help and support they need from family and friends. This is why I am committed to funding charities, which help those in need in our communities and why I urge people in crisis to never suffer in silence.

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