A SOUTH Ribble pensioner has lost his life-savings after a group of conmen swindled him out of £17,000 as part of a multi-million pound nationwide scam.

The 80-year-old man, from the South Ribble area, was tricked into handing over the cash after being contacted by a group of men claiming to be a consortium of professional gamblers.

Now police say he is devastated after discovering he had been part of a national racket. It has also cost him his friendship with a bookmaker, who also invested, on the pensioner's advice.

The man was offered the chance to be part of a racehorse-owning consortium who were 'guaranteed' to get their money back. He was approached by a conman, working under the name of Derek Stapleton, who was so convincing that the pensioner willingly parted with his entire life savings and persuaded a local bookmaker to back the deal as well.

Despite assurances from Stapleton, who has not since been traced, the pensioner received nothing and finally called in the police. Their investigations led to uncovering a nationwide racket worth millions.

The pensioner's cheques had been made out to a cheque-cashing service and the addresses in Sussex were 'accommodation addresses'.

At present, the local pensioner is the worst-hit victim, with other people losing in the region of £4,000. A police spokesman said: "It's a massive scam. We believe people have been conned out of millions. It is all very sad."

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