Rig worker extorted man over Ponzi scheme
AN OFFSHORE worker threatened to slash a man behind a doomed £200,000 investment venture unless he stumped up cash.
Gary Greig extorted £8000 from the individual said to have headed up the Ponzi scheme.
During a phone call, the first offender stated: “It’s going to all kick off if you do not have it next week.
“It is going up to 10, them f ***** g boys are up and whatever happens, happens. I just want to get this money back.”
Greig’s fellow rig worker Brian Welsh also later warned the man to pay up.
It emerged neither had invested in the failed scheme.
It was another offshore colleague of Greig’s who had instead lost money.
Greig, 45, and Welsh, 47, were arrested and appeared at Glasgow Sheriff Court. Greig, of Kilwinning, Ayrshire, pled guilty to extortion while Welsh, of Milton, Glasgow, admitted to behaving in a threatening and abusive manner.
The court heard the man heading the scheme had sought investors in 2016 for a “short term, high return” business opportunity.
The promise was people could double their money after six months. Kevin Nichol handed over £40,000. He knew Greig from working offshore.
But prosecutor Nick Konopate said “no return” was made on the scheme, leaving investors “out of pocket”.
Greig phoned the man in October 2018, saying he was responsible for a debt Nichol could not repay due to losing his £40,000.
The man got the money and an associate handed it to Greig at a Central Station car park.
On Christmas Eve 2018, Welsh then phoned the man demanding £2800.
The man this time contacted police and Welsh was arrested at Aberdeen Airport in April 2019. Greig was held a few weeks later.
Greig was ordered to do 187 hours of unpaid work while Welsh will carry out 75 hours.