Jeff Arundell, a 75-year-old man from Bath, has been sentenced to six years in prison and ordered to repay more than £4 million following convictions for multiple fraud and money laundering offences.
Arundell, residing in Sion Hill, Lansdown, Bath, orchestrated a scheme in 2016 and 2017 involving false investment promises to a friend and their family. In November 2016, he convinced them to invest approximately £108,000 in what he described as a “guaranteed money-making investment,” claiming insider knowledge that shares in a pharmaceutical company were poised to surge in value. He personally guaranteed their invested funds if the plan failed.
Instead of a legitimate investment, Arundell placed the funds on numerous spread betting trades. He falsely informed his victims that he had lost their money within weeks and could not repay them as promised. However, investigations later revealed that Arundell had actually profited from these trades without disclosing this to the victims. He continued betting with the winnings, amassing a total windfall of around £4.6 million by August 2017.
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The victims reported the matter to police in January 2017, triggering a thorough investigation. Arundell claimed he could have repaid the guarantee as he had inherited roughly £100,000 from his late mother’s estate that year. However, police discovered a separate fraud: he had improperly taken funds from his mother’s estate while acting under a power of attorney, effectively depriving other family members of their inheritance.
At Bristol Crown Court in October 2023, Arundell was convicted of three counts of fraud by false representation and money laundering related to approximately £86,000 obtained from his friend and their family. He was acquitted on one count but received a six-year prison sentence. Additionally, he had been convicted in April 2021 of fraud by abuse of position in relation to his handling of his late mother’s finances.
In a Proceeds of Crime hearing on December 19, 2025, His Honour Judge Blair ruled that Arundell had illegally benefited by £4.8 million. A confiscation order was issued for over £4.1 million, with more than £220,000 to be returned to the victims.
DCI Carlos Filippsen highlighted the significance of this outcome, underscoring the commitment to pursuing offenders who exploit their victims and ensuring criminals do not profit from their crimes. “This result sends a clear message that fraudsters will be held accountable and stripped of their ill-gotten gains,” he stated.