Fraudster who tricked more than 20 victims into handing over luxury watches, gold and jewellery in £2million scam is jailed for 12 years

Published: 07:53 EST, 13 November 2026 | Updated: 07:55 EST, 13 November 2026 A fraudster who stole watches, jewellery and other valuables from more than 20 victims during a £2million scam has been jailed for 12 years. James Charles, 49, promised to sell the expensive items, often heirlooms with great sentimental value, for a commission but instead kept the cash for himself. He appeared in custody at Southwark Crown Court yesterday, where approximately a dozen victims watched on as he was sentenced. Charles had denied the offences but pleaded guilty during the trial to four counts of fraudulent trading through his companies Olympia Mayfair and National Gold Buyers.There were 20 named victims regarding those counts.Two further offences of fraudulent trading and one count of fraud by false representation were also taken into consideration. The court heard Charles would either travel to people's homes or entertain them in temporarily rented London offices to lend credibility to his scam.'Over seven years in respect to goods worth over two million pounds, you took goods and never returned them or returned the full value of the sale,' Judge Martin Griffith told Charles.'You sold them almost immediately for lower than the valuation and continued to fob off customers with lies and tales, anything you could think of and sadly people just went along with it. James Charles, 49, promised to sell the expensive items, often heirlooms with great sentimental value, for a commission, but instead kept the cash for himself Charles appeared in custody at Southwark Crown Court yesterday, where approximately a dozen victims watched on as he was sentenced'We don't know what you did with all the goods, but they were never seen again.'Charles has previously served prison sentences under the name Jamie Goatley for copycat offences and as recently as May last year gave that name to police when arrested for driving a Mercedes while under the influence of cocaine.'Your previous convictions are a serious aggravating factor. You are a practiced fraudster and have a way with words that lull your victims into trusting you,' Judge Griffith told him.The fraudster was told he will have to serve at least half of the sentence in custody. On the day of his release, he will also be subject to a ten-year company disqualification order. Prosecutor Anthony Hucklesby told the court Charles told a 'myriad of lies' to his many victims and on September 14, 2023 changed his name by deed poll.Among the victims was a person whose marriage broke down during the fraud and another who lost their life savings. One 77-year-old pensioner lost gold coins they had saved for their retirement and another victim said the offence had 'consumed my life'. A female victim approaching ninety years old was conned and another pensioner duped in their home said they were: 'overwhelmed by disbelief and embarrassment.'In July 1999, Charles was convicted of conning an elderly woman out of her antique table and six chairs. He was also imprisoned for theft in 2004 and received six years in 2013 for theft and fraud.After Charles was arrested by Sussex Police, he opened two further companies – Kingsley & Co and Richmond & Sterling – with more people left victimised. They include a person who lost a £107,000 gold bar and another who lost five watches.Victims also lost their Patek Philippe and Rolex watches and expensive designer handbags, plus further gold coins swindled by Charles during a home visit.Charles wrote a letter to the judge claiming learning difficulties and dyslexia had set him on the wrong path in life, leading to poor decisions.'He is at an extremely low ebb in his life,' said Paul Lazarus, defending. 'He has expressed remorse and written to the court.'