Fraudsters ordered to cough-up money

30 June 2010

villain

Did you hear about those spies? Spies are ace aren't they? Poison-tipped umbrellas and secret code-words muttered from behind newspapers in train stations. Sadly, we're not in the business of writing about cool spies on this website so you'll have to settle for some fraudsters who are hauling legal arse and being ordered to wank up pennies.

The first bunch are a threesome who have been accused of running what the BBC allege to be the UK's largest Ponzi scheme.

The Financial Services Authority (FSA) have also ordered the baddies to cough up £115m as well. Quite where the money goes to is unclear though as the FSA have noted that those who lost money are unlikely to be repaid.

John Anderson, Kautilya Nandan Pruthi and Kenneth Peacock were arrested last year on suspicion of conspiracy to defraud and money laundering. The High Court heard that the three men were found to have taken deposits from investors without authorisation from the FSA.

City of London police are still investigating the swindle which hundreds of investors (hilariously, this includes sports stars and celebrities) collectively invested £84m in Knightsbridge-based Business Consulting International.

As yet, none of the three men has been charged with any criminal offences.

They're not the only ones in bother either. A former Toys R Us manager is being asked to repay more than £3m which he took from the company to pay for a life not unlike the most dodgy of rappers. It's that or 10 years in the clink.

Paul Hopes, who worked in accounts at the company’s Maidenhead head office, has already admitted to 14 counts of theft and four of transferring criminal property.

Over several years, the dirty bugger siphoned off £300,000 at regular intervals to the account of a fictitious toy manufacturer called Dunbar Associations, named after one of his female escorts. He used the money to buy cars (including a Bentley Continental Flying Spur and a BMW 3 convertible), property, jewellery and designer clothes. Oh, and prozzers. Mustn't forget the prozzers.

TOPICS:   Banking   Scams

3 comments

  • I f.
    I think the real issue here is, why has a female escort has named herself Dunbar Associations?
  • The P.
    The BBC are wrong. I`ll have you know that I run the UK’s largest Ponzi scheme. Its called public sector pensions.
  • Miami C.
    Brilliant post, I couldn't have said it better.

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