An Adelaide man involved in a Nigerian style scam has been jailed after swindling investors of more than $580,000.
Adelaide Magistrates Court was told on Tuesday that James Patrick Nolan's scam caught up people being told he had access to large sums of money detained overseas but desired cash to have it unrestricted.
Prosecutor Gary Phillips reported, it was the classical Nigerian-type scam . The only difference between Nigerian scam and this is we don't have a Nigerian; instead we have Mr. Nolan operating from South Australia. It was merely a confidential trick.
Last week Mr. Nolan pleaded blameworthy to 41 counts of scam but asked the court to take into account another 185 similar offences. Mr. Phillips said Mr. Nolan, had maintained that he still had access to about $450,000 in a Swiss bank account that might be returned to his fatalities after he was dealt with by the court. Prosecutor said, there is no money in an overseas account.
Deputy Chief Magistrate Andrew Cannon said Mr. Nolan his victims had suffered extensively because of his greedy behavior. The magistrate imprisoned Mr. Nolan for 5 years with a non-parole period of 3 years.