City boss sentenced to 14 years’ imprisonment over £70m Ponzi-style scam
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Southwark Crown Court heard how Constantinou spent £2.5 million of investors’ money on his “no expense spared” wedding on Greek island Santorini in September 2014, while his son’s first birthday party a few days earlier cost more than £70,000. “Others blame themselves and feel shame and guilt for having fallen victim to a fraud.” The judge said some £25 million went back to investors while other funds were spent running the business but most was used at “the whim” of Constantinou, who “thought only of himself”. City of London Police Detective Inspector Nichola Meghji said: “Constantinou was arrested in Bulgaria last month while trying to enter Turkey while in possession of false documents. “Many people lost their hard-earned money because of Constantinou’s greed and false promises in this fake investment scheme.”
Discover Related
)
