Three men charged in relation to a £40m Ponzi-style investment scam were committed to stand trial today and quashed reporting of their addresses in a bid to dodge angry victims.
They were arrested after City of London Police investigated Business Consulting International (BCI) and seized a stable of eight prestige cars, worth £800,000 including a Lamborghini, two Ferraris and several Bentleys plus jewellery and watches and £250,000 in cash.
They are: BCI boss Indian-born Kautilya Nandan Pruthi, 40,(pic.top) investment consultant John Cecil Anderson, 45,(pic.bottom r.) and investment consultant Kenneth Alun Peacock, 41,(pic.bottom l.).
Pruthi faces twenty-two charges that trading as BCI he dishonestly obtained money transfers, by deception, by falsely representing monies would be invested as high-interest short-term loans and that he intended and was able to repay the capital with interest on various dates between February 4, 2007 and August 2, 2008, contrary to the Fraud Act.
He also faces five charges of dishonestly obtaining money transfers, by deception, by falsely representing monies would be invested as high-interest short-term loans and that he intended and was able to repay the capital with interest on various dates between March 31, 2006 and August 22, 2008, contrary to the Theft Act.
Pruthi is additionally charged that on June 10, 2009 he concealed or disguised criminal property, namely the sale of a Maserati Gran Turismo, contrary to the Proceeds of Crime Act.
He is further charged that between January 15, 2007 and November 26, 2008 he was knowingly party to running Business Consulting International for a fraudulent purpose, namely misusing investors' money for his own purpose, contrary to the Fraud Act.
Anderson and Peacock are both charged with carrying on an unauthorised regulated activity, contrary to section 19 of the Financial Services and Markets Act 2000, between March 31, 2007 and November 26, 2008 in relation to Anderson and between September 14, 2007 and November 26, 2008 in relation to Peacock.
There are twenty-seven individually named investor victims on the charges.
BCI was run from a rented Knightsbridge office at 1 Relton Mews.
City of London Magistrates' Court committed all three defendants to appear at Southwark Crown Court for a plea and case management hearing on January 21.
The defendants were bailed on condition they surrender their passports, reside at their recorded addresses and not apply for travel documents.
Pruthi was additionally ordered to report to police twice a week and Anderson to report weekly.
They successfully applied for a Section 11 Contempt of Court Act order prohibiting publication of their addresses.
1 comment:
Does anyone know the outcome of the hearing on 21st January?
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