Con artist pub boss in £2 million fraud changed name, claimed he was successful author to fool banks
A former pub boss who tried to con nearly £2 million out of several investment banks has been jailed.
Prolific fraudster Christopher Peach, formerly of the Black Lion Hotel in Scotland Street, Ellesmere, tried to swindle huge sums in a series of cheque frauds.
Shrewsbury Crown Court heard on Monday how Peach, who changed his name via deed poll to Christopher Hill to avoid his 10-year bankruptcy order being detected by banks, submitted cheques for large amounts of money which he did not have. Before the investment firms had the chance to clear the cheques, he would take cash out of their accounts.
After Kiran Pourawal, prosecuting, explained the method of Peach's crimes, Judge Anthony Lowe said: "I thought that's what happened, I just couldn't believe that it could," insisting he thought the banks would have systems in place to stop such frauds taking place.
Not all of the frauds were successful but, as simplistic as the judge thought they were, Peach ultimately managed to get his hands on more than £240,000.
Miss Pourawal told how Peach submitted a cheque to Vanguard Asset Management, before quickly withdrawing funds. Judge Lowe was surprised how he could "transfer £50,000 of fresh air" into the account, before taking £46,000 in real money.
The prosecutor also told the court that Peach used different ways to try and convince banks to part with cash, including submitting false documents and claiming he was a successful author who had vast funds.
Peach also tried to buy the Black Lion Hotel with fraudulent funds, but was unsuccessful due to payments failing.
Peach, who now lives at Red Hill Lane, Wrexham, previously admitted a total of 19 charges including several of attempting to claim refunds and one of transferring criminal property – moving money fraudulently obtained from Vanguard Asset Management to Wace Morgan Solicitors.
The amounts concerned in the charges range from £4,900 up to £500,000, and all offences took place between 2016 and 2019.
The charges include providing a cheque worth £500,000 for Franklin Templeton Investments on August 8, 2018, which was not valid, as well as giving a cheque worth £430,000 to Terry Jones Solicitors on July 30, 2019, for which he also did not have the funds.
Other charges admitted by Peach included telling Paratus AMC that a cheque worth £486,251, had been paid into their account in error and requesting a refund – despite knowing his cheque would not clear.
Miss Pourawal said Peach's first conviction for dishonesty was when he was aged 17, for attempting to obtain services by deception. He was jailed for four years in 2008 for stealing from an employer, and was sentenced to 40 months in prison in 2012 after being convicted of fraud by false representation.
Mr Paul Smith, mitigating for the defendant, said Peach had complied with investigators when he was caught, and is involved in helping his community, including at care homes and local football clubs.
Judge Lowe told Peach: "You changed your name via deed poll and you lied about where funds were coming from.
"It's no doubt an aggravating factor that you have committed frauds and dishonesty offences in the past."
He handed Peach a jail sentence of five years.
It is expected he will serve half of the time in custody before being released on licence. A Proceeds of Crime Act mention hearing, to see if Peach's ill-gotten gains can be recouped by the authorities, is due to take place on April 12 next year.