A "charismatic and persuasive" conman who promised his victims high returns on investments in high-end Hermes handbags but instead spent their money on a "glamorous and luxurious lifestyle" has admitted fraud. Jack Watkin, who appeared in Channel 4's Rich Kids Of Instagram documentary series, gained his victims' trust by putting forward an "outward facade of a glamorous and luxurious lifestyle", Chester Crown Court heard. Cheshire Police said instead of investing the funds he raised, he travelled to London to buy luxury items in Harrods and stay at the five-star Dorchester hotel. The 26-year-old, of Alderley Edge, Cheshire, pleaded guilty to six counts of fraud on the second day of his trial. A police spokesman said Watkin defrauded businesses and individuals to the value of more than £200,000. Watkin's trial was told his scam centred around exclusive handbags, which are sold by invitation only by the French fashion house, a process which can make them a lucrative investment as the resale value can be much higher than the original price. Watkin told his victims he had the contacts that could give them access to the handbags and that they could split the profits made on resale. He duped one woman into handing over thousands thinking she was investing in the the luxury handbag when she was in fact paying his bills at the Dorchester. She, like the others, never received the handbags or their share in the profits of their resale. Matthew Kerruish-Jones, prosecuting, told Chester Crown Court Watkin "put forward the outward facade of a glamorous and luxurious lifestyle". "This, it seems, engendered trust and led a number of individuals to loan him large sums of money on the promise of either a financial return or luxury items. Neither of which materialised," he said. He said those he convinced to invest would be left "out of pocket for large sums of money". "The defendant would make excuses and avoid the complainants, all the while spending large sums of money on maintaining his seemingly lavish lifestyle," he added. Watkin, who was remanded in custody, was also convicted earlier this year of nine offences related to indecent images. He is due to be sentenced on 3 September. Speaking after the hearing, Det Con Gareth Yates said Watkin was someone "who has built a lifestyle on social media, on Instagram, and that lifestyle is one of exuberance". "So if anyone was to look at that profile, you would see fancy hotels, luxury cars, designer clothing, and he created a following, and that following allowed him to create a ruse to be the fraudster we now know, and convicted fraudster." Senior crown prosecutor Laura Atherton added that some of the frauds had taken place across "several years". "Clearly, to be able to convince an individual for that length of time that you are going to repay money and you are going to provide goods, you have to be an incredibly charismatic and persuasive person to keep that up," she said. "It's just got to the stage where things had ran on for so long that complainants have then come forward when they come to the realisation, as it's the Crown's case, that their goods or their money were never going to materialise." Read more stories fromCheshireon the BBC, watchBBC North West Tonight on BBC iPlayerand followBBC North West on X. You can also send story ideas via Whatsapp to 0808 100 2230.
Rich Kids of Instagram star admits Hermes bag scam
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"Conman from 'Rich Kids of Instagram' Admits to Fraudulent Handbag Investment Scheme"
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TruthLens AI Summary
Jack Watkin, a 26-year-old conman from Alderley Edge, Cheshire, has pleaded guilty to multiple counts of fraud after deceiving investors under the guise of a luxurious lifestyle. Appearing in the Channel 4 documentary series 'Rich Kids of Instagram', Watkin promised high returns on investments in exclusive Hermes handbags, which are known for their high resale value. However, instead of using the funds for legitimate investments, he spent over £200,000 on lavish personal expenses, including stays at the five-star Dorchester hotel and shopping sprees at Harrods. His charm and persuasive demeanor helped him gain the trust of his victims, who believed they were making sound investments. Prosecutors revealed that Watkin's fraudulent activities spanned several years, during which he continued to make excuses to avoid his investors while living extravagantly off their money.
The court heard that Watkin's scam involved convincing individuals, including one woman who thought she was investing thousands in luxury handbags, that they would benefit from significant profits upon resale. Instead, they received nothing, leaving them out of pocket and without the promised goods. Det Con Gareth Yates emphasized that Watkin constructed an impressive social media persona, showcasing luxury cars, designer clothing, and opulent hotels, which contributed to his ability to defraud numerous people. Senior crown prosecutor Laura Atherton noted the extent of his charisma and the length of time he managed to maintain the deception, which ultimately led to victims realizing they would never see their money or the handbags they were promised. Watkin is scheduled to be sentenced on September 3, following his earlier conviction for unrelated offences involving indecent images.
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