Former footballer jailed for £15m investment scam targeting family

Money from his victims was used to pay for a luxury lifestyle

Ayesha Venkataraman
clock • 2 min read

A former Charlton Athletic footballer who convinced up to 100 friends and family members to invest more than £15m in a foreign currency exchange scheme has been jailed, say the City of London Police.

London-based Richard Rufus was sentenced to seven and a half years imprisonment at Southwark Crown Court on Thursday (12 January), after being found guilty of four counts of fraud by false representation, money laundering and one count of carrying out a regulated activity without authorisation after a four week-long trial. Formerly a player with Charlton Athletic Football Club, Rufus claimed to be successful foreign exchange trader who persuaded his friends and family to invest by promising a high returns and low risk investment, according to the City of London Police. He also claimed...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Investment

FCA greenlights £839m Rathbones/Investec W&I merger deal

FCA greenlights £839m Rathbones/Investec W&I merger deal

Shareholder approval required following regulator sign off

clock 02 June 2023 • 1 min read
Sustainable Investment Festival 2023: Consumer Duty meets ESG

Sustainable Investment Festival 2023: Consumer Duty meets ESG

Specialist two-day event will look specifically at meeting new regulations

Professional Adviser
clock 01 June 2023 • 1 min read
PA Working Lunches: Join us for an in-person event in Exeter

PA Working Lunches: Join us for an in-person event in Exeter

Join us for lunch and an informative session worth one hour of CPD

Professional Adviser
clock 30 May 2023 • 1 min read