Graham Hammond, who promised expatriate investors returns of up to 20% and then plundered his client...
Graham Hammond, who promised expatriate investors returns of up to 20% and then plundered his clients' accounts, has today been sentenced to 8 years in jail by Norwich Crown Court.
The judge hearing the case estimated the sum of money used by Hammond for personal gain at £1.3m, however, the Serious Fraud Office which brought the prosecution says the amount of money missing from clients' accounts is nearer £10m.
Hammond was chairman of FCS Fund Management, which had offices in Norwich, Dubai and Hong Kong.
The company sold investments mostly through salesmen based in these offices.
Instead of investing the monies received, Hammond funded a lavish lifestyle, including operating a club in Bangkok and regularly checking in to top casinos and hotels.
The SFO says it is investigating four more cases of fraud involving high yield investments, but says it cannot give further details at present.
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