A BURY man allowed his bank account to accept fraudulent payments from victims believing they were investing in companies across Europe, a court heard.

Khalid Mahmood helped duped several people into losing their money as the man behind the account and the director of a company that had no records of trading.

At Manchester Minshull Street Crown Court, Katie Jones, prosecuting said Mahmood, 42, of Morley Street, Bury, pleaded guilty to four counts of possessing criminal property.

Ms Jones said Mahmood used a bank account called UK Euro Telecoms and described how the first victim, who has since died, was a retired man in his 80s.

"In the late summer of 2015 he had been looking for a new investment in which to put some money into," she said. "He was the victim of an investment fraud having been contacted by an individual claiming to be from a legitimate investment company and he decided to make what he believed to be bona fide investments."

On March 26 2016, the man made a payment into the account of £4,895 believing it to be an investment in shares of a company.

The second victim believed he was dealing with a man based in Geneva who worked for an investment company and persuaded him to make investments worth £4,134 which were paid into the account on March 9 2016.

A third victim wished to invest the proceeds of the sale of his business and made various investments in 2015.

He received a call in October 2015 from an individual claiming to be based in Paris and made a number of payments to Mahmood's account worth over £29,000.

The final victim was from a management consultant who was persuaded to pay £4,905 into the account on March 26 2016 believing it to be the UK legal subsidiary of the company he was investing in.

The total amount paid into the account was £43,393.

A search warrant was executed at Mahmood's home address in April 2017 and various documents were seized detailing the accounts.

Mahmood was found to be a director of UK Euro Telecomms ltd, but no corporation tax had been filed with HRMC between 2012 and 2018 and there were no VAT payments.

"Each victim was very much affected and very upset by the fraudulent scheme," added Ms Jones. "Many of them had paid other amounts to other accounts and there is an ongoing investigation by West Yorkshire Police into other frauds from some of these complainants."

Sentencing the father of four, Judge Mark Savill, said: "You had quantities of money paid into your account by other individuals who were conducting a pretty wide-ranging and complicated fraud against a number of people.

"The bottom line is that because of your thorough dishonesty over £43,000 was taken from four individuals leaving two of them with very significant emotional and psychological harm.

"These are people who worked hard and saved and you helped to wipe out their hopes in retirement by taking and possessing that money.

"Without you these types of offences couldn't happen."

He sentenced Mahmood to 15 months imprisonment, but said the sentence would be suspended for 18 months due to one of the defendant's children being "gravely unwell".

He will also carry out 250 hours of unpaid work and attend 20 rehabilitation activity requirement days.

"You have the strongest personal mitigation that a court is likely to encounter," added Judge Savill. "But you need to realise this exceptional course of action has nothing to do because you deserve it.

"You are dishonest, you should be ashamed and you should be going to prison."