Fraudster jailed for £1m refugee hospital scam
Keith Morgan spent an investor’s cash on extravagant gifts including a Jaguar car.
A fraudster has been jailed after he took a £1 million loan meant for humanitarian work and spent it on motorbikes and a Jaguar car.
Keith Morgan, 61, convinced a New York City-based investment manager the money would be spent to set up a mobile field hospital for refugees.
He told would-be investors he was a successful investment specialist who had dealt with billion-pound transactions and owned prime real estate in Hollywood where he planned to build and sell homes worth 50 million dollars (£38 million).
One investor in the US was taken in by Morgan’s lies, and handed over £998,900 thinking it would be used to help set up the mobile hospital.
Cardiff Crown Court heard Morgan immediately laundered the money and made a number of extravagant purchases, including a £68,000 Jaguar and two motorbikes costing a total of £17,000.
South Wales Police began investigating Morgan when his bank alerted them about the large sum of money deposited in his account.
He was arrested and on Monday was found guilty of fraud and two counts of money laundering.
Morgan, from Church Village, Rhondda Cynon Taff, was jailed for eight years and eight months.
Approximately £750,000 from his fraud has been recovered.
After the sentencing Detective Constable Neil Richards said: “This was a long and complex case but which had at its core a relatively simple concept – a persuasive conman who managed to obtain, fraudulently, a huge sum of money which he then attempted to spend.
“We are pleased that the majority of the money has been recovered, although work will continue to attempt to get the remainder back as well.
“I want to pay tribute to colleagues in South Wales Police as well as the banks involved, and partners across the world, who have helped us pursue this investigation.”