In a stunning turn of events, two men with connections to Birds Bakery have been sentenced to a total of 13 years in prison for orchestrating a massive investment scam.
Andrew Bird, 60, and Christopher Walton, 67, defrauded their victims out of nearly £9 million, draining £100,000 from one couple’s life savings alone. The Nottingham Crown Court revealed that the scheme spanned from 2010 to 2016.
Bird and Walton convinced many of their friends and family, including elderly and vulnerable individuals, to invest large sums of money. They promised impressive returns and downplayed the risks involved.
Despite Bird’s claims of never having lost money in trading, the reality was starkly different.
The money was never actually invested. Instead, it was used to pay off earlier investors and keep the scam going, a classic Ponzi scheme in action.
The Trial and Sentencing
During a trial that lasted nearly nine weeks, it was revealed that Bird and Walton first met at Horsley Lodge Golf Club in 2005.
Bird, then running Anglo American Equities, and Walton, a former bank manager, decided to team up.
They falsely claimed to invest funds on the Chicago Mercantile Exchange (CME), but in truth, most of the money never went into any investments. Instead, falsified documents were used to mislead investors and encourage further contributions.
The scheme collapsed in August 2016 when they ran out of new cash.
By then, Bird and Walton had amassed almost £9 million. Many of their victims had invested life savings or even sold their homes, trusting these men who seemed reputable due to their backgrounds.
Victim Impact and Reactions
Victims shared their distressing experiences in court.
One man spoke of losing money meant for his grandchildren, while another recounted being encouraged to invest even while dealing with his father’s terminal illness.
Many victims have seen their lives turned upside down, facing severe financial and emotional hardship due to the fraud.
Sentencing and Future Actions
Bird was sentenced to eight years in prison, while Walton received a five-year sentence.
Bird’s defense argued that he genuinely believed he could turn the scheme around and posed a low risk of reoffending, describing him as a lonely figure.
Walton’s defense portrayed him as a devoted family man who had been involved in community service.
Detective Sergeant Richard Foster from Derbyshire Police expressed deep concern over the emotional and financial devastation caused by the scam.
He praised the victims for their patience throughout the lengthy legal process and assured them that efforts are underway to recover the stolen funds through a Proceeds of Crime Act hearing scheduled for December 6.
The sentences handed down do not undo the damage done, but they mark a significant step toward justice for the many families affected by this elaborate and callous scheme.
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