Police have revealed the scam letter which a Sheffield man forged to try to con the Welsh Government out of £625,000.
Hoaxer Peter Hulbert, aged 54, was jailed for three years and 10 months at Cardiff Crown Court on Tuesday.
He had forged documents in an attempt to get the Government to believe he had financial backers in the USA for his racing hovercraft project and to provide matched grant funding.
Now police in South Wales have released copies of the letter that Hulbert created.
It claims to be from a firm called Berkley Surety in New Jersey and offers a proposal to invest £1 million in his venture,
The false author also says it had been an ‘absolute pleasure’ to meet Mr Hulbert and the firm was ‘excited’ to be involved with his project.
Detective Inspector Dave Runnalls, head of South Wales Police’s economic crime unit, said police were first tipped off towards the end of 2011 about the scam.
He said: “Hulbert was proposing to set up a business manufacturing small racing hovercraft firm in St Asaph, in North Wales.
“It was to set up a business, make his first Hoverpod, sell it, make a profit and so on from there.
“The scam was that Hulbert needed to get match-funding.
“The Welsh government will not pay any money until he’s got significant financial backing, a certain amount or some other investor.
“Hulbert presented the government with a letter from Berkley Surety based in New Jersey in the United States purporting to be from them saying they are going to support him with £1m.
“That letter was complete forgery and this is a fraud.”