A countywide fraud involving 30 victims and £434,043 of investments saw five men jailed for a total of 11 years and six months yesterday.

Police were first made aware of the scam when they received complaints in 2015 from investors who had lost large sums of cash after working with two companies.

They were cold called by people working for Bridgewater Associates Ltd and RSD Assets Ltd, who claimed to make big money from the sale of coloured diamonds and online binary products.

The victims were sent professional-looking brochures, purchase agreements and registration forms, sometimes even before they had agreed to buy anything, followed by authenticity reports of the diamonds purchased once they had invested.

As well as using the logo of an established American company, the two firms encouraged investors to follow their trades online and see whether they were making or losing money.

The investors told police that when they spoke to brokers they believed they were talking to the same person but under a different name.

When victims made enquiries about their investments, they were often lied to or ignored.

At Chelmsford Crown Court on Monday the scam's key players were put behind bars.

Detective Chief Inspector Lee Morton, of Kent and Essex Serious Crime Directorate, said: “This complex case has finally finished with the final defendant sentenced.

“The main players involved with this scam, Radford-Mathurin, along with George Herron, Samuel Jeal, Christopher Kirk and Rakeem Dixon, lived lavish lifestyles using the funds gained from their crimes.

“All five have been jailed for almost 12 years and will have plenty of time to think of their actions.

“The other defendants all played a key role in the fraud by laundering the cash.

“I would like to praise all the victims for their support during our investigation. I hope these outcomes offer some justice to you.

“I would like to also thank my team for their hard work over many years to help bring this case to court.”

Timus Radford-Mathurin, 31, a broker, of Pyms Road, Chelmsford, was jailed for 18 months for converting criminal property.

George Herron, 26, of no fixed address, was jailed for two years and eight months after admitting two counts of conspiracy to defraud;

Samuel Jeal, 24, of Westmoreland Road, Bromley, was jailed for three years and six months after being found guilty of two counts of conspiracy to defraud;

Christopher Kirk, 26, a broker, of Brooker Road, Waltham Abbey, was jailed for two years and four months following a trial for conspiracy to defraud;

Rakeem Dixon, 25, of Paddock Mead, Harlow, received 18 months for money laundering following a trial.

A further six people were also sentenced for money laundering charges.

They include Michael Hassini, a 24-year-old who has starred in the Only Way is Essex.