A couple who conned £40,000 out of a man, leaving the victim with no choice but to sell his family home at Christmas, have been sentenced.

In December 2016, Jason Shifrin, 48, and his wife Nicole, 46, of Stanborough Avenue, in Borehamwood, convinced an estate agent that he would be in the money if he invested thousands of pounds into an “investment opportunity” involving gold.

Instead they spent the man’s hard earned cash on holidays and accessories.

Under the false surname of Shaw, the Shifrin’s arranged to meet their unsuspecting victim at a viewing for a high value property and once the meeting was over, Mr Shifrin told the agent that if he put £40,000 into an investment, he would get his money back plus £15,000 on top within a matter of days.

The victim agreed and he deposited the money into an account which turned out to be Mrs Shifrin’s.

Immediately, £20,000 was spent on a luxury holiday to the US and Mexico while £690 was spent on a Chanel handbag at the airport.

The victim, who was waiting for his big payday, called the Shifrin’s to ask where his money was but he was given excuses by the couple including a fake text message from his “bank” which said the money had already been transferred back into the account.

The financial loss tore the victim’s family apart, financially and emotionally, and they were left with no option but to sell their home.

The estate agent reported the incident to Action Fraud who passed the case onto the Met’s Falcon team.

While investigating, officers found Shifrin had given his victim two stones, which appeared to be diamonds, as collateral for his money but the stones turned out to be worthless cubic zirconia.

Borehamwood Times:

The 'diamonds' which turned out to be worthless

The Shifrin’s were arrested at their home in Borehamwood on July 11 2017 and initially denied all offences.

Mr Shifrin was found guilty of fraud by false representation following a trial at Harrow Crown Court. He was jailed for three years and ten months.

His wife was found guilty of money laundering and she was handed a community order. She was ordered to carry out a maximum of 300 hours unpaid work which she has to complete within two years.

In 2011, Mr Shifrin published a book on his experiences with gangsters he owed £7million to. His wife, Nicole, told the Express how he was kidnapped, beaten up and repeatedly threatened.

Thugs also attacked his father to recover the money.

The couple, along with their two children, had previously lived a lavish lifestyle - living in a six bedroom house with a Range Rover and a Porsche, but had to give all that up.