Prosecutors said he had claimed he was a foreign exchange trader, convincing victims to invest in a low-risk scheme. Read more about the case here. ⬇️
A former Premier League defender has been jailed for defrauding friends, family and associates out of £8m in a pyramid scheme.
Prosecutors said he had claimed he was a foreign exchange trader, convincing victims to invest in a low-risk scheme.He was forced into retirement in 2004 following a knee injury. "While making these huge losses he put approximately £2m into his personal accounts, allegedly for the purposes of investment but this was never transferred over to his trading account."We now commence confiscation proceedings to seek to recover his ill-gotten gains".
Rufus claimed he was an experienced foreign exchange broker but was in fact using his victims' money to reimburse those who had paid in as part of a pyramid scheme, the statement said.
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