Matthew Normyle, 41, of Lord Street, Morecambe, was sentenced to two years and 10 months in prison at Manchester Crown Court earlier this year for fraud by false representation.
He committed the offences while he was living in Salford and Rochdale between 2018 and 2019.
Now, following a Proceeds of Crime Act hearing at Manchester Crown Court on May 4, he has been ordered to pay back just £1.
The benefit figure was recorded as £113,513, and a confiscation order was made to the sum of £1 due to Normyle’s limited available assets.
The first of his victims had known Normyle since 2012 and believed him to be a good friend.
Normyle offered him an investment opportunity in his newly set up boiler company Elite Heating’, which he claimed would sell and supply boilers to a building company.
Elite Heating never existed and was a front for his fraudulent activities. The victim invested £10,000, sending the amount to an account in Normyle’s name. The following month, the victim invested a further £10,000.
Following a night out together, the victim invested a further £3,000 and when Normyle claimed further delays were caused by a legal dispute with a building company, the victim paid a further £2,000 in cash to cover a tax form for court.
The victim lost £25,000 in total.
The second victim had also known Normyle for around seven or eight years. The victim started with a small investment, but between September and November 2019, he made seven transactions to Normyle’s bank account totalling £25,500.
The victim used money from his overdraft, loans and money left for his children in order to afford the investment.
Normyle paid £5,000 back to the victim who was told he would have to wait until February for any more, and then informed him in March that the accountant for the business “Howie” had stolen the money, but insurance should pay out and paid back a further £5,000.
The second victim lost £15,500 in total.
The third victim was a friend of the second, who also invested in Normyle’s scheme to the tune of £26,000.
Two further victims were also former colleagues of Normyle, who invested £7,500 and £5,000 respectively. A sixth victim met Normyle through a friend, paying in £5,000, and Normyle’s former partner also lost £3,250 to the scheme.
Normyle also exploited a long-term customer, claiming a new boiler he had previously fitted was unsafe, or there were serious faults, alleging expensive repairs were required.
Following attempts by the victims to meet with Normyle, he was reported to police and following numerous unsuccessful attempts to speak with him, Normyle was arrested at Manchester Airport on May 28 2021 on his return to the UK from Spain.
Detective Constable Clara Williams, from GMP’s Complex Fraud Investigation Team, said: "His actions have had a devastating impact on those around him, purely to cover his own back after living well beyond his means, and racking up debts with various loan companies.
"Using Proceeds of Crime legislation should Normyle come into any money we can take it and return some of what the victims lost.”