A St Leonards-on-Sea pensioner was tricked out of £12,000 by a fake Personal Payment Insurance (PPI) compensation company between July and September.
The bogus firm contacted the man, promising large sums of money as he may have been mis-sold PPI on a loan taken out many years before.
The company promised a compensation cheque of £8,000 , but said it would need its fees paid upfront before the compensation money could be released.
It was only when the man had made several payments through a bank that he began to doubt the company’s legitimacy.
In total he gave the fake company around £12,000 and got nothing but empty promises in return.
DS Tony Webb, of Hastings CID, said:
“Although the name of the fake company isn’t known there is a lesson here.Always be suspicious of people or situations that offer a large financial benefit for an initial investment fee. If you believe that you are entitled to PPI compensation, seek professional advice and do your own research first.”