Pair cheated victims out of £14m through Bewdley-based company, jury told
Two former businessmen are alleged to have made false claims about their company's ability to make children's animated TV shows, to dupe people to invest almost £14 million, a court has heard.
David Murray Griffiths, 50, and Simon Drew, 49, obtained cash, cheques or guarantees for substantial sums of money over a five year period, it is claimed, through a Bewdley-based company, Inspire GLG Ltd, which is now in administration.
They are accused of making false representations to get people to put money into a series of limited companies set up to produce programmes with titles such as Boblins, Odd-Jobbers, Galactic Circus, Ambers' Animals, Inuit Adventures and Monster School.
A jury at Birmingham Crown Court was told that only the animated Boblins programme was aired on TV in 2006 in the UK and later shown in Sweden, Norway, Canada and New Zealand.
All the companies failed with little or no return for the investors.
Griffiths, of New Road, Oreton, near Cleobury Mortimer, and Drew, formerly of Larches Lane, Oreton, and now living in Rye, East Sussex, deny 16 charges of fraud by false representation and 18 allegations of deception involving the obtaining of monies, cheques and financial guarantees between 2004 and 2009.
Alleged victims were induced by using figures relating to the success of Disney products or Thomas the Tank Engine, suggesting the Boblins and other programmes had the potential to be successful global merchandise phenomenons, the court heard
Mr Malcolm Morse QC, prosecuting, said the defendants created the impression that Boblins was in the same league to attract investors but it was all 'smoke and mirrors'.
"They were selling the idea that the company in Bewdley was the West Midlands answer to Dreamworks," he said.
Mr Morse said the driving force behind the invited investments was Griffiths having enjoyed some success with the Boblins programme.
The trial continues and is expected to last at least three months.
