Fraudster conned aged victims out of £11million by internet hosting resort financial savings seminars

A conman tricked pensioners out of £11million to pay for his luxury lifestyle – including holidays to Mexico.

More than 100 victims of Steven Long suffered ‘profound harm’ after transferring money to his Universal Wealth Preservation fund.

They believed his lies that it would shield them from inheritance tax and care home charges.

Long, 59, appeared the ‘consummate professional’ giving seminars in hotels across the country targeting the retired.

Some victims transferred ownership of their homes to his firm, or made him executor of their wills – after he promised that it would enable them to live out their years with peace of mind. But the cash went on risky investments, paying his and his wife’s debts and funding luxury trips to Mexico where he owned property.

Long, from Ipswich, was jailed for eight months in 2018 for contempt of court for refusing to reveal where the money went following a civil case.

Last week, ahead of a trial at London‘s Southwark Crown Court, he pleaded guilty to two fraud charges between 2008-2018 and faces jail again. 

Detective Constable Lisa Hunt, who led an eight-year inquiry into his crimes, said: ‘He targeted victims who placed their full trust in him – many of them elderly, vulnerable, or planning carefully for their families’ futures.

‘Long callously exploited that trust… leaving victims and their loved ones facing devastating financial and emotional consequences. Some lost the security they had spent a lifetime building.’

Long will be sentenced at a later date.

Steven Long, 59, pictured outside the High Court after tricking pensioners out of £11million to pay for his luxury lifestyle