A man who fled the country after fleecing his friends and their family members of almost £500,000 has been jailed.

Jonathan Mark McCrae, aged 41, of no fixed address, admitted eight counts of theft and six counts of false accounting at Bolton Crown Court. A further four offences were taken into consideration.

He was sentenced to three years four months today.

McCrae fled to Switzerland after his crimes came to light in the autumn of 2005. He was arrested at Liverpool Airport on November 19 2009 having boarded a flight from Geneva.

McCrae's scam began in 2002 when he regaled his friend - for whom McCrae was best man at his wedding - with tales of his success in spread betting on the US stock market. He told of the extraordinary growth of his investments and suggested he invest.

The victim invested and told members of his family, who also invested.

In total the victim invested £97,685. Seven friends and family members invested amounts ranging from £6,000 to £45,900, the total (including the victim) being £241,085.

McCrae relayed his story to another friend - for whom he was once again best man at his wedding - who also invested £154,000.

Of the £395,085 invested by these victims only £44,000 was ever repaid.

Following his arrest a three other victims contacted police to report that McCrae also duped them. Their losses total £41,500.

A further victim who was conned by McCrae while he was abroad contacted police once he learnt of his arrest. He invested £43,687.37 in addition to a further CHF30,000.

Detective Constable Rick Armstrong, of Bolton CID, said: "McCrae is without a doubt one of the most selfish individuals I have ever come across.

"He wickedly abused the trust of his close friends and their families, who invested life savings based on a tissue of lies and deceit. He then fled this country in an attempt to escape justice.

"His corrupt scheme was simply a vehicle to fund his lifestyle and to satisfy his own debts.

"The damage he has done is incalculable and he simply does not realise the monetary cost to his victims was just the tip of the iceberg ⿿ one of his victims has suffered three heart attacks as a direct result of the worry he suffered.

"All the money is gone and a lot of hopes and dreams have been completely shattered as a result of his deliberate and incomprehensible deceit.

"While he has rightly been sentenced, many of his victims will not feel justice has been done until they get their money back.

"Sadly that could take many years and in some cases may not happen at all."