A man from Sutton Coldfield has been sentenced for defrauding an elderly woman out of £136,000 by fabricating stories about investing her money in gold and inventing cartel threats to intimidate her.
Steven Porter, aged 43, initially met the woman in her 70s through a networking event linked to a supplement company. He convinced her to invest over £168,000 with promises of gold returns, but only returned about £32,000. Porter used manipulative tactics, including sending fake photos and videos to create a false sense of legitimacy.
As time went on, Porter’s stories grew more extreme. He claimed his associate involved in the gold investment was either dead by suicide or murdered by a cartel, and that he himself was being pursued for money by this criminal organization. These lies frightened the victim, exploiting her trusting nature.
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In reality, Porter used the stolen funds to support a failing business and fuel his gambling addiction. Despite having no prior convictions, he admitted to fraud by false representation. Psychiatrists testified that Porter suffers from bipolar disorder and gambling addiction, which influenced but did not fully excuse his actions.
Birmingham Crown Court sentenced Porter to two years and eight months in prison on March 11. Recorder Joe French emphasized the serious breach of trust and the significant harm inflicted on the vulnerable woman. The victim described how Porter’s actions devastated her financially and emotionally, leaving her confidence shattered.
While Porter showed some remorse and is taking steps to address his gambling problems, the court highlighted that the central issue was the calculated exploitation of an elderly woman’s trust for personal gain.