Ponzi Scheme
Second property-backed Chinese asset manager defaults
Xin Qi, a Chinese asset management firm backed by property projects, has defaulted on CNY1.9bn (£203m, $291m, €261m) worth of investments, affecting thousands of retail investors across mainland China.
United Kingdom | 9 Feb 16
Three convicted in London-based Ponzi scheme
Three men have been convicted of a conspiracy to defraud investors in a London-based Ponzi scheme, which involved a form of purchase order financing.
United Kingdom | 4 Feb 16
City of London Police looking for victims of potential Ponzi scheme
The City of London Police is appealing for more victims to come forward of a potential Ponzi scheme which targeted members of the Gurka and Nepalese community.
Chinese Ponzi scheme scams billions from 900,000 investors
Chinese authorities have arrested 21 people involved in a peer-to-peer (P2P) lending scheme suspected of defrauding 900,000 investors of around CNY50bn (£5.3bn, $7.6bn, €7bn).
Tax & Regulation | 25 Nov 15
Ex-IFA’s landmark jail term for ‘giant Ponzi scheme’ upheld
The UK Court of Appeal has upheld a landmark sentence of 10 years’ imprisonment imposed on former independent financial adviser Phillip Boakes following his conviction on charges brought by the Financial Conduct Authority (FCA).