A Cypriot forex firm manager who used investor cash to fund his lavish lifestyle has been sentenced, Reuters reports.
This is 41-year-old Antonis Constantinou, who was found guilty by a court in Britain of fraud of 50 million pounds.
According to the same information, the 41-year-old Cypriot, who had pleaded not guilty to all charges, was sentenced in absentia, since he did not appear in court.
Constantinou managed Capital World Markets (CWM), which offered a monthly investment return of 5%. Prosecutors told the court the company attracted investors because of the company's lavish London offices and sports sponsorship deals, including Chelsea.
However, the scam was exposed in March 2015 when the police raided CWM's offices. There investigators discovered the Cypriot had spent the company's money to rent a six-bedroom mansion and pay for private flights and lavish parties, including £2,5 million for his wedding on the Greek island of Santorini.
It is noted that Konstantinou was recently arrested in Bulgaria with forged identity documents, but was released and remains at large, according to what was reported in court.
Source: Sigmalive
