British man charged with operating £10m Ponzi scheme

Castillo de la Almudaina Palma de Mallorca

UK businessman John Hirst has been charged by the UK Serious Fraud Office (SFO) in connection with operating a Ponzi investment scheme. The scheme allegedly targeted the British expatriate community in Mallorca, and investors in the US and France. Hirst is alleged to have run the scheme out of Mallorca, where he was a well-known member of the expatriate community. The scheme, involving an investment vehicle called Gilher, had more than £10 million invested in it, and losses are estimated to be

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