City trader ‘posed as tycoon in £73million investment scam’
A CITY trader posed as a multi-millionaire with links to the Vatican and the Spanish nobility in an elaborate £73 million scam, a court heard.
Luis Nobre, 49, was one of a gang of fraudsters led by Marek Rejniak who posed as international financiers to dupe Dutch shipping company Allseas Group Ltd into handing over the “enormous sum” in 2011, it is claimed.
Mr Nobre was introduced to company bosses as an “A1” trader with strong links to the US Federal Banking system. He promised to invest the cash but just spent it on himself, Southwark Crown Court heard.
The fraudsters boasted they had access to “secret and lucrative” forms of trading through their connections to the Vatican via the Spanish nobility.
Solicitor Buddika Kadurugamuwa, 46, allegedly helped launder £111,400 of criminal cash and is in the dock alongside Mr Nobre.
Prosecutor David Durose said: “The allegations in this case arise out of a fraud perpetuated in 2011 on a Dutch shipping company called Allseas SA.
“Allseas were seeking to raise capital in order to fund the building of a new ship and had available the enor- mous sum of €100 million to invest.
“They took advice from a series of individuals about how best to use this money.”
Allseas was promised it could double its investment within 30 days and would receive €1.2 billion within three years, jurors heard.
“Ultimately it is clear that the individuals who ended up advising them were not the international financiers that Allseas thought they were,” said Mr Durose. “They were, in fact, a group of fraudsters led by a man called Marek Rejniak.
“As a result of the actions of the fraudsters, Allseas lost control of the entire sum of €100 million.”
Mr Nobre, of Wembley, north-west London, denies acquiring and transferring criminal property and possession of articles for use in fraud. Mr Kadurugamuwa, of Hendon, north London, denies being concerned in a money laundering arrangement and transferring criminal property.
The trial continues.