Saturday, 31 January 2015
Last updated 17 hours ago
Dec 19 2011 | 12:48pm ET
True-crime television shows usually focus on murders, kidnappings and other dark sides of human action. But occasionally the seedier side of the financial world takes center stage.
So it was on the BBC's Crimewatch last week, which featured the story of a convicted hedge fund fraudster. Robert Taylor-Barefoot was convicted in absentia in September of ripping investors off to the tune of £237,000. He was tried in absentia because he is a fugitive, having skipped bail before the trial began.
London's police believe that Taylor-Barefoot has left the country.
Taylor-Barefoot's BBA Capita Capital Management ran into trouble with Jersey regulators almost three years ago for pushing unauthorized investment funds. Later in 2009, the Jersey Financial Services Commission warned that BBA Capital "displays warning signs of being set up for a fraudulent purposes."
And so it was, according to police, with Taylor-Barefoot using client money on his own "lavish lifestyle."
Taylor-Barefoot was convicted on seven counts of false representation and one count each of conspiracy to defraud and contravening a directors disqualification order. He was sentenced to six-and-a-half years in prison.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…