Thomas Elvin, from Meencargagh outside Ballybofey, convinced a number of people that he could turn their investments into fortunes.
But as he was found guilty by a jury of taking money illegally from investors yesterday, a former friend revealed that Elvin was a fantasist – and has been for many years.
“It’s very simple. Thomas is simple – not the full shilling as we used to say,” said the source.
“I was just shocked and surprised that anyone would give him a penny to invest on their behalf, never mind the sums of money reported in that court case.
“The man is completely bonkers. You’d get more sense out of Thomas the Tank Engine.”
Elvin, 50, had contested 26 charges. He will be sentenced in March next year.
Our source told us: “I don’t know if kids read your website but let’s put it this way. I’d rather invest my money with Santa Claus that Thomas Elvin.
“I just cannot understand how anyone could get caught by him. It’s very sad that anyone did.”
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