Conman who posed as trader jailed for 14 years

Prison Bars

A conman posing as a millionaire London trader who defrauded a Dutch shipping company of $113m was sentenced to 14 years in prison by a U.K. court.

Bloomberg News reports that Portuguese national Luis Nobre persuaded Allseas SA, which was trying to raise capital, to transfer the $113m into his control, the Metropolitan Police said in a statement Tuesday. The Wembley resident, who presented himself a financier with access to billions from connections to the Vatican and Spanish aristocracy, was found guilty of the 2011 fraud at a London court on Friday.

The 49-year-old was taken into custody at London’s Heathrow Airport in December 2011. At the time of his arrest police found fake documents relating to a number of bank accounts that purported to hold billions of dollars. He was released on bail before being re-arrested on May 2012. He spent millions on a lavish lifestyle that included five-star hotels, private security, concierge services, clothing and hairdressing, the police said. Police recovered $99.4m, which was returned to Allseas.

To access the complete Bloomberg News article hit the link below:

Fake London Trader Jailed for 14 Years in 100 Million-Euro Fraud

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