Influencer known for cash giveaways admits hindering fraud investigation

An individual, formerly a student, who gained public attention for distributing money on the streets of Plymouth, has confessed to impeding a police inquiry into a suspected £3.5m fraud. Gurvin Singh Dyal acknowledged his failure to provide requested data pertinent to the ongoing investigation. During his appearance at Exeter Crown Court, he pleaded guilty to a civil charge of contempt of court, receiving an eight-month prison sentence, which was suspended for a period of two years. Devon and Cornwall Police stated that the fraud investigation is still active, though no charges have been filed. Dyal has consistently maintained his innocence regarding any participation in fraud. Testimony in court revealed that Dyal was instructed to furnish materials to the police on 22 July 2020 but did not “reasonably comply with that order”. He supplied passwords and PINs for four digital devices confiscated by officers, but not for an Apple laptop, claiming he could not recall its password. Felicity Payne, representing the prosecution for Devon and Cornwall Police, asserted that there was “no good reason why Dyal was not able to remember that password”. She further stated that he had “essentially frustrated and completely undermined the purpose of that order,” thereby hindering the police’s capacity to investigate the fraud and initiate charges. “Without that data the evidential threshold is not going to be met,” she commented. Kieran Vaughan KC, acting as Dyal’s counsel, stated that his client received advice from his solicitor on the day the production order was issued, instructing him not to disclose passwords or PINs. Vaughan added that a period elapsed before Dyal was compelled to comply, and that Dyal had granted police complete access to his emails and had communicated with Apple in an effort to gain entry to the laptop. “It was ‘obvious from the efforts Mr Dyal was taking that he was genuinely attempting to get access to the laptop’,” Mr Vaughan further remarked. Judge Stephen Climie expressed his certainty that, following four years of appearances at police stations and courts, Dyal understood the “importance and significance of complying with orders made by the courts.” The judge mandated Dyal to contribute £10,000 towards the prosecution’s expenses and approved Dyal’s proposal to remit this sum at a rate of £1,000 monthly. Dyal’s presence in court followed several years during which he garnered media attention and actively promoted himself across social media platforms. His presence on news websites began in 2019, where he discussed his earnings from foreign exchange trading, commonly referred to as Forex. A local publication highlighted his act of distributing money outside Drake’s Circus shopping centre in Plymouth. Dyal, identifying himself as a bio-med student, asserted he was giving away approximately “£2,000 to give back to the community” and to enhance his social media footprint. He stated his intention was to leverage that platform, along with posts showcasing his affluence and his rose gold-wrapped Maserati, to persuade individuals to invest in Forex. Jonathan Reuben, a follower of Dyal on social media, recounted being persuaded to invest alongside him. Mr Reuben stated, “He portrayed himself as a really good trader, someone who makes, you know, thousands of pounds, he was always like in Dubai and on holiday and things like that.” The 28-year-old reported investing £17,000 and observed with initial enthusiasm as his investment grew to approximately £30,000. However, shortly before Christmas 2019, the value began to decline, leaving him with only £48 by Boxing Day. He remarked, “I was kind of preparing for it but it felt terrible to see all that money disappearing, especially on Christmas Eve.” A significant number of investors were under the impression they were placing funds with Infinox, a company registered in the UK and authorized by the Financial Conduct Authority (FCA). However, the actual company they invested with, also named Infinox, was situated in the Bahamas. Approximately 200 individuals, including Mr Reuben, reported Dyal to Action Fraud, leading to the case being transferred to Devon and Cornwall Police, who calculated the overall investment loss to be around £3.5m. Detective Inspector Dan Parkinson commented: “Effectively they were influenced by him to invest in this and ultimately they’ve lost a huge amount of money.” He reiterated that the inquiry into the alleged £3.5m fraud is still ongoing, but no charges have been filed. Dyal refuted claims of fraudulent conduct when he was featured in a BBC Three documentary titled “Scam Land: Money, Mayhem and Maseratis,” which explored the events. He claimed he was merely an intermediary and was unaware of the existence of two distinct companies. He stated: “I need the clients to know I didn’t benefit from this… I was a victim because I’ve lost money as well.” “My finances are lower than before I started Infinox. I’ve lost money in the process because of the marketing,” he added. Speaking to those who incurred losses, including Mr Reuben, he commented: “I’d really hate me if I was them as well.” Within the same documentary, Infinox Bahamas asserted that clients were explicitly informed that all trading would occur through their entity, subject to Bahamian regulation. They denied any awareness of deceptive or untrue assertions. Infinox Capital Limited, the FCA-regulated company based in the UK, stated that the Infinox companies were never involved in the deceptive or dishonest promotion of a scheme designed to entice consumers into high-risk trading ventures beyond the FCA’s jurisdiction. Dyal maintains an active presence on social media, boasting over 730,000 followers on Instagram. He is also present on Tik Tok, where, in October, he uploaded a video depicting himself distributing money within a supermarket. Det Insp Parkinson remarked: “That’s a sales technique to try and sell a lifestyle to people and quite often that lifestyle is fake – it’s not real.” He advised: “We would say always be careful with your money, [get] an independent financial advisor and check that they’re registered with the financial conduct authority and that will provide you with the security over your investment that you really need.” “If it looks too good to be true it probably is,” he concluded. Mr Reuben further commented: “You just need to be wary and only put in what you’re willing to lose, so if you want to go and throw away £100 on a roulette wheel… that’s the same level of risk you’re taking when you give any money to anyone on Instagram.” Individuals impacted by the matters discussed in this report can seek assistance from BBC Action Line. Stay updated with BBC Cornwall on X (formerly Twitter), Facebook, and Instagram. Connect with BBC Devon on X (formerly Twitter), Facebook, and Instagram. Submit your story concepts to spotlight@bbc.co.uk. Copyright 2024 BBC. All rights reserved. The BBC disclaims responsibility for the content found on external websites. Information regarding their policy on external linking is available.