The couple who cheated pensioners out of £28m in huge timeshare scam

A couple scammed over 3,500 pensioners out of around £28 million in Britain's biggest timeshare sale scam. Mark and Nicola Rowe, from Hampshire, spent millions on properties, high-end shopping trips and JS Lowry artwork, while their children attended a private school costing £110,000.

The pair operated a fraudulent company offering help to sell timeshares for elderly owners worried about rising fees. They even hired Julie Peasgood, a former Hollyoaks actress, to promote their business on glossy TV adverts. However, the star was unaware that Mark and Nicola, both aged 54, were in control of a sophisticated operation that flew victims out to fake offices in Tenerife to carry out fake pitches promising their investments would double in 14 months.

As reported by the Daily Mail, the Rowes and their gang of fraudsters conned 3,583 people into thinking their timeshare apartments would be sold for hefty profits if they invested in a voucher scheme that was actually worthless. People as old as 94 invested up to £80,000, losing their pensions and life savings.

The Rowes hid around £8 million in profits across 54 different bank accounts. They bought homes in Tenerife as well as a £2.4 million property in Hampshire.

The home included stables and a £56,000 Bang and Olufsen sound system. They also spashed out on a £31,500 pencil sketch by JS Lowry and other expensive artwork totalling £185,000.

The pair shopped at Selfridges and Harvey Nichols, including one whopping £3,600 spree. They spent £9,000 on watches while spending £1,000 a night at the Dorchester Hotel.

Meanwhile, the victims sunk into debt after being convinced to invest their savings. They eventually discovered that the voucher scehem was fake and their timeshares had not been sold.

By this point they also faced huge maintenance bills. Southwark Crown Court heard that the majority of the firm's clients were aged 60-80, with many said to be trapped in a "living nightmare".

One pensioner told the court: "I'm now supposed to be retired and enjoying life, but as a result of being a victim of Mark Rowe's fraud my quality of life has been reduced to a struggle - I'm unable to afford to even pay my own rent.

"I've been a successful businessman all of my life, but feel that I've let my wife down, and I cannot see how I can put this right in the time that we have left."

A six year investigation has led to the conviction of 14 people in connection with the scheme, with Nicola set to be sentenced on Friday (October 17). Mark was previously jailed for seven-and-a-half years' after being found guilty of conspiracy to defraud.

CPS specialist prosecutor Gayle Ramsey said: "These defendants acted in a completely selfish and manipulative manner to make huge sums for themselves and exploited timeshare owners, many of whom were elderly.

"They provided victims with the false hope of disposing of timeshares in exchange for a valuable investment when in reality they were each left tens of thousands of pounds out of pocket after purchasing something which was worthless."