'Ponzi' scheme conman admits to £14m fraud

Terence Freeman, who set up GFX Capital Markets claiming he would make money for investors on foreign currency exchanges, admitted to fraudulent trading at Southwark Crown Court. The court heard how the scheme, which unravelled following the collapse of Lehman Brothers, lured up to 700 people with the promise of no risk and high returns. While millions of pounds of investors' money was wiped out through botched trades and the high price of running the company, 62-year-old Freeman used his income to buy a top of the range Land Rover, an executive box at Spurs and lavish gifts for his n...