A professional gambler who ran a fraudulent betting syndicate has been jailed for tricking his members out of at least £44 million.
Mike Stanley was sentenced to six years’ imprisonment following one of the most complex investigations of its nature in the history of 123 that other members had invested.
It was later established that the syndicate’s level of success was never sufficient to support the withdrawals members were making or Stanley’s own extravagant 123 detectives analysing vast amounts of computer and financial data, and taking witness statements from a large number of affected clients.
Some considered themselves friends of Stanley or had family ties with him, and many were so convinced by the apparent success of the scheme that they 123 Crown Court on Tuesday 24 September 2024.
In addition to the 123 a clear message that anyone who seeks to lie and cheat their way to financial prosperity will be brought to justice.’
Protect yourself against Ponzi schemes
- If you are considering any type of investment, always remember – if it seems too good to be true, then it probably is.
- There is no such thing as a ‘guaranteed risk-free’ investment. High returns can only be achieved with high risk.
- Fraudsters aim to make their 123 for further advice.
