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Three people charged over £10m “ponzi” scheme

Three individuals have been charged in connection with an alleged £10m fraudulent investment scheme.

Daniel Hirst of West Yorkshire; Linda Christine Hirst of Surrey and Zoe Waite of Surrey all appeared at Bradford Magistrates Court today in response to a summons in connection with the alleged scheme and were charged with offences under the Proceeds of Crime Act 2002.

The scheme targeted UK nationals and other expatriates living in Mallorca, as well as investors in France and the USA. Over £10m was obtained from investors with losses believed to be around £6 million.

This follows the charging of John Neil Hirst on March 16, 2011 with conspiracy to defraud and money laundering offences. Hirst operated Gilher Inc, which was a Panama and Seychelles registered company, which invested funds on behalf of private clients.

The investigation started in November 2009 following complaints made to the SFO by investors. The investigation was conducted with the assistance of West Yorkshire and Surrey police forces and overseas law enforcement authorities. Other suspects are still being investigated over their involvement.


Tyrie urges banks to go public on ringfencing concerns

Treasury select committee chairman Andrew Tyrie says banks should air their grievances over the Independent Commission on Banking’s ringfencing proposal in public rather than privately lobbying Sir John Vickers. Speaking at the British Bankers’ Association international banking conference in London yesterday, Tyrie said the debate around structural reform of banks must be transparent. He said: […]


Greek parliament approves austerity package

The Greek parliament has narrowly voted in favour of the £25bn package of austerity measures designed to prevent the country defaulting on its debts. MPs passed the measures by 155 votes to 138. A second vote will be held on Thursday that changes the law and allows the package to be implemented. The package, proposed […]


A free house instead of a state pension?

A couple of weeks ago, I was at Luton airport at the crack of dawn to catch a flight to Nice to speak at the Money Marketing Retirement Summit in Monaco. In fact, I was the first speaker at that three-day event and my job was to get the summit going with a talk on […]

BBA still trying to defend PPI position

The British Bankers’ Association is continuing to defend the way banks sold payment protection insurance despite recent uproar over widespread PPI misselling. Speaking at a Which? conference on financial services reform in London this week, BBA executive director of retail Eric Leenders set out why the trade body launched its judicial review into PPI redress […]


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There is one comment at the moment, we would love to hear your opinion too.

  1. I do wish the FSA would target more of its resources at snuffing out these schemes before they fail rather than worrying if a client was correctly categorised as risk profile 4 rather than 5 etc.

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