The City of London Police has recovered part of the money that investors lost to a Ponzi scheme.
Freddy David was a former financial adviser who managed to steal £14.5m ($18.6m, €16m) from 55 of his clients.
He told them their funds were being held in a high-interest bank account in his company HBFS Financial Services.
But instead of investing the money, David used it to fund his gambling addiction.
Investments from the 55 victims varied between £200,000 and £750,000.
He was then sentenced to six years in prison in 2018, and was also barred from holding a directorship for 10 years.
The City of London Police said on social media: “In fraud cases, the work doesn’t stop when the criminal goes to jail.
“In the case of Freddy David, we have worked hard to legally recover funds to repatriate his victims. Two years on from his sentencing, we’re pleased to have recovered £3m.”
