Coin victims lose hope of seeing money
Victims who had their money stolen by former Rare Coin Company managing director Robert Jackman have been given no hope of their money being returned, despite restitution being ordered by Albany District Court last week.
Mr Jackman, 63, was sentenced to four years and two months jail last week and ordered to pay reparation of more than $1.8 million by sentencing Judge Julie Wager.
However, the court heard Mr Jackman and wife Barbara had been declared bankrupt with no assets and had only a modest $6000 in savings, dashing investors’ hopes of their money being returned.
Albany retiree Annemaree Mabbs, 70, who, with her husband, was among the 21 investors to pursue criminal charges against Mr Jackman after having $98,000 stolen from them, said she had little hope of seeing the money.
“It just sickens me ... it took the feet from under us,” she said.
“No way are we getting that money back — it was going to be our superannuation.”
The court heard the investors who had money stolen included a 100-year-old woman who lost $172,000, which was to be used to care for her disabled son, while another investor had lost $452,000.
The majority of complainants lost between $10,000 and $50,000, with three losing more than $70,000.
Mrs Mabbs said she was told the couple’s portfolio, which they started in 2006, was worth about $300,000 but when they wanted to sell, they were consistently told their stock had not been sold.
“I feel for those who worked for him who he made lie to us and others,” she said. “Every Thursday, week after week, I would ring, and all that time it was gone.”
Mrs Mabbs said she did not believe at the time what was being offered by Mr Jackman were “unrealistic investment opportunities”, as noted by sentencing Judge Julie Wager.
“Maybe we shouldn’t have bought so much, now on reflection,” she said. “But we are all wiser after the event.”
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