Timothy Barnes, a financial adviser from Warwickshire, has admitted to defrauding dozens of people, a charitable trust, and a residents' association of nearly £2 million. The fraud, which took place over a six-month period, targeted friends and neighbors, many of whom had known Barnes for years.
Barnes, also known as Paul, was a trusted figure in his close-knit village. He exploited this trust by borrowing money under false pretenses, amassing substantial sums from 36 individuals. Among his victims was Carolyne Ryan-Bell, a professional horse trainer who had known Barnes for approximately 25 years. Their families had a close relationship, sharing holidays and meals.
In December 2022, Barnes approached Ryan-Bell, requesting £40,000 to allegedly pay an inheritance tax bill following his mother's death, promising repayment within days. Ryan-Bell stated she had no reason to doubt him at the time, given their long-standing friendship. The total amount defrauded reached close to £2 million.