A fraudster who duped people into investing thousands in a fake company has been jailed.

Alan Taylor, of Garrett Lane, Tooting, was sent to prison for two years after pleading guilty to eight counts of fraud.

The 36-year-old targeted elderly and vulnerable people in Southwark, Battersea, Wandsworth, Cheshire and Wales, getting them to give their savings to a gold investment company called European Gold Ventures Limited.

After a year of trading the company closed and relaunched as Simple Gold Investments Limited.

The addresses of both companies, Mayfair and Old Broad Street, never existed.

Losses ranged from £7,000 to £59,000 for individuals.

Officers believe there could be more victims. People who have transferred money through the following websites should get in touch with police – europeangoldventures.com, simplegoldinvestments.com.

Detective Constable Luis Castanheira, from Southwark police, said: “This scam has caused a substantial amount of distress and hardship to the victims, most of whom invested their life savings.

“I urge people to be vigilant when considering investing in these sorts of schemes. If it looks too good to be true, it probably is.”

Taylor was sentenced at Southwark Crown Court on Thursday, September 10.

Fraudulent investment can be checked on the Financial Conduct Authority website on fca.org.uk