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Three jailed for £10m Majorca Ponzi fraud | Three jailed for £10m Majorca Ponzi fraud |
(35 minutes later) | |
Two men and a woman have been jailed for cheating British ex-pats in Majorca out of £10m in a Ponzi scheme. | |
John Hirst, 61, of Huddersfield Road, Brighouse, was sentenced at Bradford Crown Court to nine years for his part in the fraud. | |
His wife, Linda Hirst, 61, was told she would serve two-and-a-half years for money laundering. | |
Accountant Richard Pollett, 70, of Poole, Dorset, was sentenced to six-and-a-half years. | |
John and Linda Hirst enjoyed luxury holidays and lavish wedding celebrations in Las Vegas and Majorca with the proceeds of the Ponzi scheme. | John and Linda Hirst enjoyed luxury holidays and lavish wedding celebrations in Las Vegas and Majorca with the proceeds of the Ponzi scheme. |
Ponzi schemes pay returns to investors from money paid by other investors rather than profits. | |
Judge Jonathan Durham-Hall QC said to Hirst: "You wanted it all - get rich quick. | |
"You had the greed and the desire for the high life, which overcame all morality." | "You had the greed and the desire for the high life, which overcame all morality." |