A crooked pension broker financed a glittering ‘fa
A crooked pension broker financed a glittering ‘fantasy world’ by pocketing advance commissions on a string of ‘bogus’ policies sold for employers J.
Rothschild Assurance.
The 28-year-old appeared to be a hard-working high flyer in the competitive world of finance and desperately wanted to impress the father he doted on, his fiancee and friends.
Boosting his income by pnds stlng 34,000 illicitly gained, Ramsey Shimi stubbornly kept his criminal activity a secret and went missing rather than reveal to his closest confidants he was appearing in court.
Instead, the generous salesman was spending all his cash entertaining his circle to lavish pnds stlng 400 dinners, holidays, presents and shopping expeditions.
But at London’s Southwark Crown Court today (Friday) the truth caught up with Shimi when he was jailed for 12 months.
Judge Andrew Goymer said he had the ‘unpleasant’ task of sentencing a man of hitherto excellent character was was both generous and industrious.
He said the ‘tragedy’ of the case was Shimi had ‘abused the trust that was placed in you.
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He continued: ‘You did it in two ways.
One was to defraud your employers by claiming commission on policies that were never executed.
‘And the other unattractive feature was the way you made use of people known to you to provide information to give the appearance of authority to these bogus polices.
‘As a result Rothschilds were defrauded to the extent of pnds stlng 34,000.
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The judge said despite ‘proud’ Shami’s many positive qualities, there was a ‘fateful flaw’ in his character.
‘You believed you would get away with this and never be caught.
You somehow deceived yourself as to the consequences of what you had done.
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The court heard seemed to be targeting clients working in Information Technology who had enjoyed bumper pay increases and were anxious to book a comfortable retirement.
But Shimi was playing a illicit game of deceit and simply filling in applications in the names of former schoolfriends at Dover College and business acquaintances.
And far from being IT specialists, one customer was a chef, and another a clerk.
It saw him being paid commission on the full policies upfront by the Cirencester-based company.
It was only when banks rejected direct debit orders, it was discovered the former public schoolboy had used bogus details and betrayed the people whose identities he stole.
Colin Hart, prosecuting, said the defendant began working for the assurance company in April 1997 as a self-employed sales rep.
‘The position was, it was understood Shimi was selling pensions amongst others to information technology professionals who had suddenly received a rather enlarged upsurge in their incomes,’ he said.
‘From 1997 to March 1998, some 28 pensions were put through – others were perfectly all right – which once the direct debit mandates were obtained and submitted by Shami, were returned by the banks.
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An complex investigation was to solve the mystery.
Shimi was using false particulars on the application forms.
Shimi, of Radland Road, Silvertown, East London, admitted six charges of obtaining money by deception, involving commission payments of pnds stlng 34,000.
Commission due on all 28 fictitious policies would have netted somewhere in the region of pnds stlng 160,000.
Mr Hart said when interviewed by his bosses, Shimi claimed he had an informal arrangement with another man who would introduce clients and they would split profits 50-50.
‘He would be sent back the relevant information, which he transposed himself onto the application forms.
The prosecution do not accept that at all.
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The court heard that the individuals betrayed by Shimi had all been traced by detectives and confirmed false addresses, jobs, and bank details had been allocated to them.
Mr Raymond Lewis, defending, said Shimi was a ‘gregarious, perhaps charming, amusing’ man who was ‘hungry for success.
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He said the defendant dreamt of financial success to impress others.
‘To show people he was a richer, more comfortable, wiser and more generous man than he was really in a position to be.
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Counsel admitted in the end Shimi fell prey to temptation.
‘He has (now) received the greatest shock he has ever received in his life.
It has completely knocked the stuffing out of him,’ he said.
Mr Lewis added Shimi was ‘pigheaded’ and a man ‘who couldn’t say ”no”.
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it’s all a matter of face.
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Pregnant fiance Sophie Rowbottom, from Solihull, wept as she told the court of Shimi’s generosity.
‘From the very first time I knew him, he always wanted to do everything for anybody.
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She said he would work all hours to help friends and clients with their affairs.
And she said ‘picking up the tab’ in restaurants was not just to impress.
‘If he wants to go out he wants his friends there to enjoy it, he wants them to feel they can come out.
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She added: ‘He has always spent the money he earned.
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Estate agent James Blissett said Shimi was god-father to his three children and was his best friend, describing the defendant as ‘a wonderful man.
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He said Shimi had made a mistake and he was left angry Shimi had hidden the truth for so long.
Mr Blissett agreed Shimi was generous.
But he added: ‘I think he was taken advantage of by a lot of friends, just because he was doing so very well for himself.
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ends
