Key facts
- James Gillingham, mastermind of a £1 million Ponzi scheme, has been jailed for five years and six months.
- The gang used aliases inspired by TV and film characters to cold-call over 60 victims.
- Victims were promised guaranteed monthly returns of between 0.5% and 5%.
- The largest amount taken from a single victim was £133,900.
- Gillingham fled the UK in 2016 and was arrested in August 2025 after being deported from Singapore.
- Around £650,000 was used to pay staff, including over £200,000 to Gillingham himself.
James Gillingham, the mastermind behind a £1 million Ponzi scheme, has been sentenced to five years and six months in prison. His gang used aliases inspired by TV and film characters, such as Harvey Specter from Suits and Jonathan Hart from Hart To Hart, to cold-call and pressure more than 60 victims into investing in worthless or non-existent opportunities between June 2015 and October 2016.
At Southwark Crown Court on Wednesday, Gillingham, 38, pleaded guilty to fraud, money laundering, and perverting the course of justice. He had been living in Singapore but previously had businesses in Shenfield, Essex, and claimed to have offices in prestigious London locations like Canary Wharf and the Gherkin, though the Canary Wharf address was a mail-forwarding service and only one desk was leased at the Gherkin.
Victims were promised guaranteed monthly returns of between 0.5% and 5%, with the largest single loss amounting to £133,900. However, none of the £1 million invested was actually used for genuine trading. Instead, money from new investors was used to pay fake dividends to existing investors, staff, and business expenses. Around £650,000 was used for staff payments, including over £200,000 for Gillingham himself, and more than £70,000 went to his alleged lieutenant, Sujanthan Sotheeswaran.
Gillingham fled the UK in 2016 to evade justice and was later deported from Singapore. He was arrested at Heathrow Airport on August 15, 2025, by City of London Police officers. Judge Martin Griffith noted that as a Ponzi fraud, attracting new investors was necessary to repay original investors and keep them "sweet."