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Global trickster is jailed after new Spanish fraud
• 14 Jun 2007 •
AN AUSTRALIAN with a criminal record for fraud in Switzerland, France, Luxembourg and Gibraltar has been jailed for three and a half years by Malaga Provincial Court for cheating a company out of $24 million (17.7 million euros). He has also been ordered to pay private Swiss bank Lombard Odier Darier Hentsch and Cie $22 million (16.6 million euros) compensation.
The court was told that the defendant presented his own financial company – Capital Suisse – which he operated from Marbella as offering innovative yet safe investment opportunities with excellent results.
During meetings in his office he convinced Hentsch and Henchoz representatives his business was solvent, and he subsequently received almost $25 million (18.8 million euros)from Hentsch and Henchoz Cie, which was later taken over by private Swiss bank Lombard Odier Darier Hentsch and Cie.
However, after the money had been sent to banks in Gibraltar, America and the Virgin Islands, it was then distributed among family, friends and business partners.
When the Swiss bank became suspicious, and after discovering that the man had a criminal record for fraud, he was forbidden from entering Switzerland for seven years. The bank also found out that he and his company were unknown in London and New York financial circles, and they asked him to return the money.
However they received only excuses and the offer of shares in a worthless company called Petsmarketing INC that had been created after the bankruptcy of Petshealth, a company which sold insurance for dogs and cats.
After opening legal action in Spain, the bank retrieved $2.2 million (1.7 million euros) from the US and Gibraltar, where bank managers blocked accounts. |  Return to Top
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