City trader conned friends and family out of £1.8m for gambling addiction

A City trader who conned friends and colleagues out of nearly £1.8 million to feed his gambling addiction has been jailed for five years and four months - despite his tearful fiancee's plea for mercy.

Stewart Jones, 35, pleaded guilty at the Old Bailey to fraudulently taking sums of up to £880,000 from six men, including his former UBS boss to invest in a racehorse trading scheme.

When Mr Robinson and his brother Danny became suspicious about their investments, Jones faked an bank statement and invoice.

Jones even took £85,000 from his fiancee Helen Griffiths who only found out about what he had done after he had fled to Las Vegas, squandered the rest of the money and taken an overdose.

Credit: PA

Before he was sentenced for six counts of fraud and two of forgery, Miss Griffiths had begged Judge Anthony Morris QC for leniency, saying he was "no monster".

Jones, who was born in Pontypool in enjoyed a successful career in the City, earning six-figure salaries as he hopped from JP Morgan, Merrill Lynch and Barclays, rising to become head of UK emerging markets at UBS.

The court was told Jones, who now lived at Limehouse in the east of London was handsome, charismatic and an accomplished rugby player and earned sums of money "beyond the dreams of most ordinary people".