Man in court over ‘£13m fake scheme’

Scottish Daily Mail - - News -

A MAN has ap­peared in court charged with de­fraud­ing hun­dreds of in­vestors out of £13mil­lion through an il­le­gal Ponzi-style scheme.

Alis­tair Greig, 65, is also ac­cused of mov­ing £5.8mil­lion out of the UK con­trary to the Pro­ceeds of Crime Act.

The pros­e­cu­tion al­leges that in­vestors were told their cash would be in­vested to achieve high re­turns on short-term de­posits. In re­al­ity, his scheme was funded by new par­tic­i­pants.

It was al­leged at the High Court at Liv­ingston that Greig, now of Bos­ton, Lin­colnshire, op­er­ated the scheme be­tween 2001 and 2014 mainly through a firm called Mi­das Fi­nan­cial So­lu­tions (Scot­land) Lim­ited, in Aberdeen. He de­nies all charges and is to stand trial at the High Court in Ed­in­burgh in Fe­bru­ary.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.