On May 22nd, the Royal Court of South Warwick in the UK tried a Ponzi scheme case, in which the key figure Anthony Constantino was found guilty of seven charges, including fraud, fraudulent transactions, false statements, and money laundering.
Constantinus organized the establishment of the fraud group CWM, which operated from the end of 2013 to the beginning of 2015 and was once very popular. Advertising even reached high-end offices in the City of London and sponsored highly anticipated local sports events, including Premier League clubs.
Constantinus claims that investing in foreign exchange at CWM can earn a monthly return of 5% and an annual return of up to 60%, and investors can also receive commissions by actively promoting CWM.
Konstantinu will also provide investors with a detailed explanation of the investment fund operation plan, telling them that only 10% of the investment funds will be used for venture capital, while 90% of the funds will be safely stored in Germany's "segregated accounts". As a venture capital fund, Constantinus has both a CWM fund protection plan and a personal risk guarantee.
It is reported that in the early stages of the scam, CWM's minimum investment amount was 50000 pounds, and later, the minimum investment amount increased to 100000 pounds.
After trial and investigation, it was found that over 250 victims of CWM provided £ 70 million in funding. But in reality, these funds are not used for foreign exchange investment, and CWM's claimed rate of return is simply a return of investors' own funds or others' funds. And CWM's significant financial expenses are the return of customer returns, CWM's personal living expenses (up to £ 3 million), and his wedding.
According to the Detective General of the London Police Department, the investigation into CWM began in 2014, but Constantinus has consistently denied any wrongdoing in his actions. This is a long-term and complex investigation. Constantinus is a professional criminal who only wants to make as much money as possible for himself, without considering anyone else
Last week, a British court learned that Constantinus was recently arrested in Bulgaria for forging identity documents, but has been released and remains at large. He will be sentenced in absentia on June 9th.
