The two defendants are alleged to have been involved in a racket which led purchasers to believe they could make big profits out of the rising value of the metals.
What these victims were never told was that there was no chance of them being able to re-sell the commodities in 1 kg blocks, said Mr Polnay.
“These metals all have industrial uses. But those businesses who use them don’t want to buy them by the kilogram from various members of the public,” he said.
“The metals these defendants sold were, in effect, worthless, because in the form they were in – 1kg blocks – there is no one who would want to buy them,” said Mr Polnay.
I recognise that wording….
“This meant that for every £100 that a client thought he was investing, £50 to £74 would go to the salesman. Obviously and contrary to all fair, reasonable and honest behaviour, this was kept secret from the consumer,” he said.
On average, the defendants would use only £19 out of every £100 paid by investors to buy the metals.
I even recognise those numbers.
Dickinson, said to have been the prime mover in the scam, was sent to prison for seven years and disqualified from being a company director for 10 years.
Oorloff, who was described as having had a lesser role, was jailed for four and a half years and disqualified for seven years.
Both defendants will face a confiscation hearing at Guildford Crown Court on May 19, 2017.