London trader admits £14 million Ponzi scheme

London trader admits £14m Ponzi

London skyline

City trader Terry Freeman has pleaded guilty to running a Ponzi scheme that defrauded investors to the sum of £14 million.

Freeman, formerly director of GFX Capital, promised investors high returns at minimal risk. In reality, he used their money to purchase holiday homes, an executive box at Tottenham Hotspur Football Club and gifts for his wife, say the City of London Police.
Police say up to 700 investors were seduced by Freeman’s promises of high returns from the foreign exchange markets, and

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