Fraudster jailed for 10 years over £34m Ponzi scheme

Foster, 52, who devised and ran "wholly dishonest "schemes that during their operation attracted £34m from investors over an approximate three year period, was sentenced today at Harrow Crown Court. Last month, he was found guilty of six counts of fraud under the Theft Act 1968 and eight counts under the Financial Services and Markets Act 2000 ("FSMA"). The loss to investors is said to be more than £17m. Foster promised high returns on a number of gambling and network marketing schemes but instead used the cash to purchase a farm in Kent complete with swimming pool and Koi carp breedi...