British Madoff ran £14 million ponzi

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Old Jan 12, 2011, 4:20pm   #1
 
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British Madoff ran £14 million ponzi

a scam on every corner

British Madoff admits running £14m Ponzi scheme which ripped off high-profile footballers and golfer Monty's ex-wife

* Terry Freeman funded a lavish lifestyle with millions from his clients
* City trader even reassured investors they were safe after Madoff scandal
* Up to 700 people may have fallen fallen to his fraudulent business

A City trader pleaded guilty today to establishing a 'ponzi' scheme in which up to 700 victims were defrauded of at least £14 million.

Investors from all walks of life invested hundreds of thousands of pounds with Terry Freeman and his company GFX Capital, with the promise of big financial returns.

His victims included high-profile footballers and golfer Colin Montgomerie's ex-wife Eimear.

Today the 62-year-old admitted fraudulent trading and a string of other offences at Southwark Crown Court in London.

Angry investors, some of whom had lost their life savings, were in the public gallery for the hearing. He admitted stealing £14 million but his victims said the true figure was at least £23 million.

One of Freeman's victims was said to have handed over £1.5 million, received GFX reports stating his investment had risen to £2.7 million, and later found just £15,000 left in his trading account.

The fraudster was accused of hiding the fact that he was losing investors' money on the markets for several years and meanwhile spending their investment on a lavish lifestyle, City of London Police said.

Read more: http://www.dailymail.co.uk/news/arti...#ixzz1ApohGRax
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Old Jan 12, 2011, 4:34pm   #2
 
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Re: British Madoff ran £14 million ponzi

Probably wont be the last either
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Old Jan 12, 2011, 4:45pm   #3
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Re: British Madoff ran £14 million ponzi

His financial dealings came to light after he was investigated following his complaints to the police that he was being threatened by his victims.

I'm rather heartened that anyone could be both convincing enough to con bods out of £14 AND stupid enough to shoot themselves in the foot.

Makes you wonder at the levels of intelligence of those who were conned.

To find out if he was a t2w member, let's see who stops posting for a bit....



On which subject, for those who might have been wondering if my last few weeks absence from the site was as a result of yet another visit to The Priory, no. I went down to Frinton at the invitation of the Rotary club to assist them with some investment issues they were having trouble resolving. Didn't get as far as the club unfortunately.

On asking someone for directions, I dropped an 'H', made two errors of grammar and inadvertently allowed the plum to fall out of my mouth. I was instantly seized and put in prison for failing to be in possession of appropriate character, background and breeding. I tried to bribe them but they said they weren’t falling for that one again.
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Thanks! The following members like this post: scose-no-doubt , Trader333
Old Jan 12, 2011, 5:00pm   #4
Joined Dec 2003
Re: British Madoff ran £14 million ponzi

It's all about WHO CONTROLS THE MONEY.

Madoff, the Frinton freak, this freak or any other person who's going to 'make' you a tonne of cash. The lowest common demoninator is they all controlled the money. Hence they could steal it whenever they wanted.

By all means invest with people but if you ever let them control the cash then it's your fault if it goes missing. But remember this, a conman will always tell you it's not possible to invest that way and therefore you'll be missing out on the easy profits. But again, give them the cash and.......
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Old Jan 12, 2011, 5:34pm   #5
 
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Re: British Madoff ran £14 million ponzi

Quote:
Originally Posted by anley View Post
any other person who's going to 'make' you a tonne of cash.
showing your age there
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Old Jan 12, 2011, 5:39pm   #6
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Re: British Madoff ran £14 million ponzi

I'm 41 by the way.

Is Monty's ex-wife not one the THE most beautiful women on the planet? Check her out in that picture. She gets my vote for sure. Just a shame if we ever hook up that I wouldn't be able to pronounce her name properly
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Old Jan 12, 2011, 5:44pm   #7
 
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Re: British Madoff ran £14 million ponzi

Click the image to open in full size.

pity her feet are blurred
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Looks like Scose be trollin' 'aaaaard tho... as far as some are concerned!
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Old Jan 12, 2011, 5:49pm   #8
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Re: British Madoff ran £14 million ponzi

Quote:
Originally Posted by TheBramble View Post
His financial dealings came to light after he was investigated following his complaints to the police that he was being threatened by his victims.

I'm rather heartened that anyone could be both convincing enough to con bods out of £14 AND stupid enough to shoot themselves in the foot.

Makes you wonder at the levels of intelligence of those who were conned.

To find out if he was a t2w member, let's see who stops posting for a bit....



On which subject, for those who might have been wondering if my last few weeks absence from the site was as a result of yet another visit to The Priory, no. I went down to Frinton at the invitation of the Rotary club to assist them with some investment issues they were having trouble resolving. Didn't get as far as the club unfortunately.

On asking someone for directions, I dropped an 'H', made two errors of grammar and inadvertently allowed the plum to fall out of my mouth. I was instantly seized and put in prison for failing to be in possession of appropriate character, background and breeding. I tried to bribe them but they said they weren’t falling for that one again.
I am, once again, convulsed. BTW, verbification of that word owes itself to the late, great Preston Sturges, who deployed it in the mouth of Joel McCrea in "The Palm Beach Story".
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Old Jan 12, 2011, 5:53pm   #9
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Re: British Madoff ran £14 million ponzi

That girl's pretty if 16 year olds are your thing

But where's the class?
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Old Jan 12, 2011, 5:55pm   #10
 
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Re: British Madoff ran £14 million ponzi

She's 22, I'm 25 booyah!

I'll wait until I'm old and have money to start hitting up the 18s again.
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