Conman Steals £11M from Pensioners

0:00On March 9th, a 59-year-old conman from Ipswich has admitted to defrauding more than 100 pensioners out of 11 million pounds. Stephen Long ran a fake investment scheme called Universal Wealth Preservation, promising to protect their money from inheritance tax and care home, fees. He posed as a polished expert, hosting seminars and hotels nationwide to target retirees. Many victims handed over their home deeds or named him executor of their wills, trusting his assurances of financial security in their later years. The betrayal hit hard, with victims suffering deep financial ruin and emotional distress after a lifetime of saving. One lead detective described how long preyed on their vulnerability, shattering family's futures. Instead of safeguarding funds, Long blew the cash on high-risk bets, personal debts, and lavish Mexico vacations where he owned property. Back in 2018, he served eight months in jail for refusing to disclose the money trail in a civil case. Last week at South Earth Crown Court in London, Long pleaded guilty to two fraud counts spanning

1:042008 to 2018. He'll return for sentencing soon, likely facing more prison time as Justice catches up.