Paul Sherry’s deception cost three mates $65,000

A Fleurieu Peninsula man on JobSeeker purported to have €1.4m held in a Belgian bank account but instead blew his friends’ hard-earned cash on a luxury trip to Thailand.

A Goolwa Beach man who deceived three friends into handing over more than $65,000 has faced court.

The Christies Beach Magistrates Court heard Paul Anthony Sherry, 57, convinced three friends to transfer him the money between 2018 and 2019 so he could invest it on their behalf.

A police prosecutor said Sherry had told the victims – who are aged between 56 and 67 – he had a considerable return on trades and shares.

“He sent them a photo from his phone showing he had an account containing 1.4 million euros from a Belgian bank named Multi Credit Bank,” he said.

“This bank does not exist.”

The court heard Sherry had told the victims they had made a profit but he actually spent the money on holidays to Thailand including one trip on which he spent $21,000 in eleven days.

“There is no evidence that the money was ever invested into shares as he had indicated to all the victims,” the police prosecutor said.

Christies Beach Magistrates Court. Picture: Kaysee Miller

“There are many varied excuses given as to why the money has not come through, generally it’s always the bank’s fault.”

Sherry previously pleaded guilty to the 23 charges of deceiving another person to benefit himself.

Defence lawyer Wayne Carlin said Sherry lived on a Newstart and JobSeeker payment and had serious health issues including “possible cancer”.

“I can tell your honour there has been no formal diagnosis of cancer,” Mr Carlin said.

“I’m not standing here saying this is a man who has cancer, he’s certainly unwell and there’s certainly further tests that need to be done.

“He had traded in bitcoin for a couple of years and had some success and it was certainly his initial intention to make money for each of them, he accepts that things didn’t turn out the way he initially wanted it to.”

Mr Carlin asked Magistrate Lynette Duncan to consider a lenient sentence due to Sherry’s health issues and minimal criminal history.

Sherry will return to court in January for sentencing.