Aussie man living in London is fleeced more than $330,000 in overseas scam 

An Australian man living in London has almost lost his house and business after being scammed by an employee at one of the world’s largest banks.

Former teacher Wayne Johncock was fleeced out of $337,000 by Rajesh Ghedia who falsely claimed to be the vice president for the Bank of America.

Ghedia was actually an employee working in the technology operations. 

Mr Johncock was one of seven who were convinced by Ghedia to invest into non-existent financial funds to a total of more than $3.3million between 2016 and 2022.

Ghedia also faked having terminal cancer to claim $2.2million worth of insurance payouts from numerous companies claiming he would die within 12 months. 

Ghedia claimed to be a wealthy trader and vice president at the bank of America when meeting Mr Johncock at a neighbour’s Christmas party.

He promised to invest millions into Mr Johncock’s education business, but the former teacher was suspicious from the get-go.

‘To really make sure that I knew that he was absolutely honest I said “right, I want to meet you in your place of employment and I want to communicate only through your work email”,’ Mr Johncock told SurreyLive.

‘He said, “That’s absolutely perfect’ he was going to suggest the same”.’

Ghedia then spent 15 months speaking with Mr Johncock and convincing him that he would negotiate his funds for his education company.

They would meet in the Bank of America offices where Mr Johncock would be provided a security pass to eat in the cafeteria with the scammer.

‘Every day I thought I was dealing with the Bank of America … (I) never ever thought I’d be involved in something like this,’ Mr Johncock told Seven.

Mr Johncock’s losses to Ghedia’s scam almost cost him his business and house.

The mental anguish of the scam caused Mr Johncock to turn to self harm, which he has since worked through.

Instead of investing his victim’s money, Ghedia directed it to his personal account which funded a lavish lifestyle.

He used the ill-gotten gains to pay for luxury cars, property and private education for his children. 

Rajesh Ghedia (pictured) is currently serving a jail sentence of six years and nine months after pleading guilty to more than 30 counts of fraud in 2022

Ghedia was sentenced to six years and nine months imprisonment in June 2022 after pleading guilty to more than 30 counts of fraud.

During sentencing, Judge Deborah Taylor described Gedia as a ‘persistent fraudster and liar’.

‘You have caused them (the victims) devastation, showing utter disregard for their mental wellbeing and finances,’ Judge Taylor said.

‘All have been left scarred.’

Ghedia had also targeted parents of school friends, a cousin and a taxi driver who were promised they could double or triple the money they provided him.

To avoid conversations with his victims, Ghedia would often make ‘dreadful assertions’ such as claiming his daughter had been killed in a car accident.