137.00 YER﷼ Conman who blew £2m of investors' cash on VIP lifestyle is fined Bukownica Kolonia Druga
- GEO Lokalisering: Luilaantje 92, 1935 Bm, Bukownica Kolonia Druga, Berlin, Netherlands
education 'His indulgence with money, which the Crown say belonged to others, included a VIP hospitality package of £30,000 for that holiday, a £178,000 house extension, there are trips to watch Sunderland FC from executive boxes at £68,000.' The court heard Rae convinced investors to part with money by claiming he had secured a 'major financial investment' but could not reveal the specifics of it as he had signed a non-disclosure agreement in relation to it.
Incredibly, the court heard how the conman Rae had looked into a Lake District property with helicopter landing pad in the belief 'major money, in the form of billions, was coming for himself and the investors'. 'As a result of his lies, deceit, false promises and, as they turned out worthless assurances, those customers have, while he enjoyed the high life, at best lost the entire value of their investments and at worst been rendered penniless.
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