Hampshire fraudster who spread £1.2m across 76 bank accounts is jailed

A FRAUDSTER from Hampshire who swindled more than £1.2m by opening counterfeit bank accounts has been put behind bars.
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George Costache, 34, of Sussex Street, Winchester, pleaded guilty to committing fraud by false representation.

Between September 1, 2018 and July 3 this year, Costache opened 76 bank accounts across Hampshire, Dorset and Surrey, which were then used to receive funds gained by fraudulent activity.

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In total, £1,213,817 was put into these bank accounts, including funds from multiple victims for the purchases of caravans, tractors and heavy plant machinery – which did not exist.

George Costache Picture: Hampshire ConstabularyGeorge Costache Picture: Hampshire Constabulary
George Costache Picture: Hampshire Constabulary
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No UK victims were found, but when police searched his address, they found 23 counterfeit European identification documents and passports that were all linked to the bank accounts.

Costache appeared at Winchester Crown Court on Friday, November 20 for sentencing, and was jailed for four years.

Detective Sergeant Marcus Mills, from Hampshire Constabulary, said: ‘With the support of a wide-range of national and international partners, an offender has been brought to justice and handed a substantial custodial sentence. This was a complex investigation which has yielded a fantastic result.

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‘The cost to Costache’s victims have been potentially life-changing, both financially and psychologically, so we are pleased to see that he is no longer a threat to the local communities of Hampshire, Surrey and Dorset.

‘In handing down a lengthy sentence, which reflects the nature and severity of his criminal activity, we hope that this will act as a future deterrent to those individuals looking to exploit both banking institutes and vulnerable people who unfortunately fall victim to fraudulent schemes.’

A message from the Editor, Mark Waldron

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