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Hamish McLaren was “merciless” and exhibited “devious behaviour” as he ran a Ponzi scheme”, the judge said.
A devious Australian conman who stole millions of dollars by offering fake investment schemes and pretending to be a barrister has been jailed for at least 12 years.
Hamish Earle McLaren, 49, manipulated 15 victims and stole A$7.66 million (NZ$8.03 million) from them in a trail of deception lasting from May 2011 until his arrest in July 2017.
He urged victims to cash in their superannuation, redraw from their mortgages, sell their shares, and apply for home loans to give him money for non-existent investment schemes that promised a high return.
Each time McLaren convinced a new victim to pay, he would use their money to pay “dividends” or “interest” to others, to prolong their belief that he was a legitimate investment manager. Some victims were paid a small amount of money back, while some were paid none.
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Hamish McLaren competing in the SMH Half Marathon in 2014, in a photo that showed he was not Hamish Maxwell as he claimed to UK investors.
He was in a relationship with one victim, using a fake name, and stole A$317,000 from her after presenting her with fake documents about her “investment”. Other victims lost their entire life savings and superannuation.
Designer Lisa Ho was another to fall prey to McLaren, losing hundreds of thousands of dollars, but she managed to claw back some of her money after taking him to court.
On Thursday, Acting Judge Colin Charteris said McLaren appeared to have no conscience, as he sentenced him to 16 years behind bars with a non-parole period of 12 years for his “outrageous” criminal conduct.
He said McLaren was “merciless” and exhibited “devious behaviour” as he ran a Ponzi scheme which was “robbing Peter to pay Paul”.
“This offender preyed upon the victims. He had the ability to persuade them to part with their money. He had no empathy for them,” Acting Judge Charteris said.
“He was driven by the main game, which was to obtain their money to spend as he wished.”
JESSICA HROMAS/FAIRFAX MEDIA
Fashion designer Lisa Ho had money stolen by McLaren, but got some back after taking him to court.
Acting Judge Charteris said an essential element of humanity is being able to trust your fellow human being, but McLaren “falsely and despicably” dealt with victims and “callously decided to steal as much as he could”.
“I do not believe he has any remorse,” the judge said. “I believe he is consumed by himself.
“I accept he was motivated by greed and not need.”
Hamish McLaren fleeced 15 victims of more than $8 million over six years.
The court was earlier told McLaren liked to spend money, and at one stage dressed like James Bond and drove an Aston Martin car. His barrister Gabriel Wendler said the money stolen by McLaren was “gone” and spent on “lifestyle situations” including clothes and first-clbad travel.
McLaren, wearing a grey suit and a blue tie, sat in the New South Wales District Court dock in front of a packed public gallery full of his victims and their families. The victims gasped as the sentence was read out.
He will be eligible for parole in July 2029.
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