An independent motor trader in Hull conned a pensioner out of his life savings when he asked him to become a ‘sleeping partner’ in Clough Road Car Sales.
Stephen Johnson ‘borrowed’ £25,060 over seven months from the 75-year-old victim but never paid it back and has now been jailed for three years by Hull Crown Court.
Johnson met his victim when he came to look at a car on his forecourt. They had never met previously but it emerged the victim had worked in the motor industry in the 1960s and knew Johnson’s father.
Johnson began borrowing money from the victim, who, the court heard, was excited about being back in the motor trade.
But rather than investing in stock as expected, he used it to pay debts and fines, and has left the victim with no life-savings left, the court was told.
He admitted the offences when interviewed by police, reported the Hull Daily Mail.
A year previously Johnson had received a suspended jail sentence for being a bankrupt engaging in business under another name and making false representations to make gain.