Walter Finch
By Jon Clarke and Walter Finch
SHE was best friends with TV star Denise van Outen and had more shoes than notorious Filipino first lady Imelda Marcos.
But the glamorous life of fashion designer-conwoman Jody Smart has come to an abrupt end after she was found guilty of fraud in Spain.
Smart – aka Jodie Pearson – will now swap first-class trips to New York’s fashion week for a Spanish jail cell for the next three-and-a-half years for her part in the notorious €35 million Continental Wealth Management fraud.
The scammer has also been ordered to pay out a combined €370,000 to just two of the roughly one thousand victims over the next 15 days.
Smart – who describes herself on Instagram as a ‘fashion designer, wellness expert, philanthropist, wedding planner’ – runs an upmarket beach club, Oceana, on the Costa Blanca.
Victims claim she founded her fashion label and restaurant in Benissa off the back of the thousands she scammed out of unsuspecting expats through the CWM investment fund.
On her Instagram page she has flaunted her glamorous lifestyle in numerous foreign resorts over the last year, including expensive holidays in Venice, Greece and Thailand.
The victims meanwhile – at least one who committed suicide after losing his life savings – have had to wait nearly a decade for justice after a series of delays at the court in Denia.
READ MORE: Shock for hundreds of expat victims as court dismisses giant €35 million CWM pension fraud case
Smart was listed as the director of CWM when it collapsed in 2017, but ex-husband Darren Kirby, who was thought to be the mastermind, has so far avoided prosecution.
Incredibly, at least half a dozen other employees and senior figures have also yet managed to evade justice.
But, the sentence, which was issued this week by Alicante’s Audiencia Provincial court, is seen as a massive victory for the victims and could now open the floodgates to many more.
One lawyer, who the Olive Press has worked alongside, to expose the case and bring justice to them, Angie Brooks, said she was ‘delighted’ at the judgment.
“It’s great news, I’m happier than I’ve been in seven years,” said Brooks, who oversaw a long complicated class action against the pair.
“It’s been a seven-year battle, back and forth to the court in Denia from my home in Granada and it’s cost me a fortune in legal fees.
“At least some justice has been done and she will have to cough up nearly half a million euros in damages and fees.”
As for the others involved, they have so far evaded justice.
“Incredibly, Darren Kirby and a few others have managed to get off as he was not a director or a shareholder in the company,” rued Brooks.
A separate court in Denia ruled in 2023 there was ‘insufficient evidence’ to prosecute four executives in a decision that devastated the victims.
“I spent three years trying to bring a criminal case against the whole bunch for fraud for the transfer of pensions and money sent to Malta, but it was complicated,” explained Brooks.
“I don’t think the judge could get her head around it and threw it out.
“Now we can bring a much bigger, stronger case against them.”
She continued: “I’ve got new lawyers and, unsurprisingly, they are raring to go on this. This will send out a shuddering message to the pension industry. It is coming down the line now.”
The Olive Press is aware of other cases being brought in the Isle of Man, but they are civil cases.
We were unable to speak to Smart before going to press, but previously when asked about the case her current husband Franco Pearson told us: “Go get a life”.
She will likely appeal the judgment, but may have to do it from behind bars.
Click here to read more Costa Blanca News from The Olive Press.
