A FRAUDSTER who ripped off his friends to the tune of $1.8 million over several years has been sentenced to six years and six months in prison.
At Newcastle District Court on Wednesday, Judge Roy Ellis weighed up how much of the blame could be placed on conman Cameron Randall Gidley-Baird's bipolar disorder for years of deception and manipulation.
"It's not just entering into a bad business falsely optimistically or gambling falsely optimistically, he's lying to these people," Judge Ellis said.
"There is arguably a sense of optimism that even though he's lying to them he will be able to repay them, but he knows at the time these are deadset lies."
Police evidence shows the 48-year-old swindled eight victims out of almost $2 million for 'start-ups' and 'businesses' which he used for shopping or gambled away.
He would ask his victims for loans or investments for 'business purposes' and falsely tell them they were doing well - handing over fake cheques to back up his lies.
At least $221,000 in cash was spent at the Scone Bowling Club and another $379,652 charged by TAB.
Both he and the co-accused, his wife Ellise Hosking who will face trial next year, were unemployed from 2012 to 2020 and didn't receive an income above the tax-free threshold.
Gidley-Baird hadn't lodged a tax return with the ATO since 2011.
According to police evidence, in late 2012 Gidley-Baird told one of the victims he had several business interests, including an online retail aggregator called '@Sales'.
He asked for $8000 to cover 'key business expenses', promising a $15,000 return. Gidley-Baird then threatened the victim and said that without the loan the business venture would fail, he would be bankrupted and the money wouldn't be paid back.
A year later, the same victim loaned him $5,000 on the promise of a $46,000 return the next day. He handed over a cheque for that amount despite his bank account having just $14.10 in it.
By 2017, the victim had loaned Gidley-Baird a total of $821,000 and received a $1000 repayment, according to police facts.
Another victim paid Gidley-Baird $974,591 under similar pretences and wasn't paid back a cent.
Gidley-Baird's lawyer told the court his client's bipolar disorder caused him to behave impulsively, arguing his lies weren't of the same 'quality' of people without a mental illness.
"They always think they're going to win," he said.
"The eagerness to do things that are beyond their capability comes with the illness."
Judge Ellis said the lies probably also come with "feeling he is on quicksand with all the debt that's accruing".
"The reality is over the years there's a repetition of lies, they're new lies along the same lines - making offers that are unreal, and repayment offers that are never going to be met," he said.
Gidley-Baird was sentenced to an aggregate term of six years and six months backdated to December 14, 2021.
He will be eligible for release in March, 2025 with his parole period ending in June 2028.
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