A detective is urging investors to always seek independent advice after a Nottinghamshire businessman defrauded more than 50 victims out of £13 million. The total losses across the entire fund exceeded £13 million, with the losses of those who provided statements amounting to approximately £5.7 million. “He also bought himself a Porsche and purchased a £1.9 million house, a significant portion of which was funded by investors’ money. So to the victim, it seemed to them like he was doing everything he could to try and recover all of the lost money. A broad range of people lost money – and the impact on their lives is difficult to imagine.