Footy fans scammed out of more than $800,000 have told a Melbourne court of their despair and "total embarrassment" after being sucked into a bogus investment scheme.
Carrum Downs man Douglas Johnston, 75, along with his wife Maureen, convinced friends they met through the Collingwood Football Club to invest with them but, instead used the money to pay off credit cards and for new investor deposits.
The scammers met their victims at the football.Credit:Sebastian Costanzo
Victoria's County Court was told on Tuesday that Johnston faced jail time after a jury earlier this month convicted him of nine counts of obtaining a financial advantage by deception between January 2010 and November 2013.
He defrauded five people, including two couples, of about $815,000 in what prosecutor Catherine Fitzgerald called a "callous" and "exploitative" scheme.