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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 investment scheme. 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.
John Hirst was sentenced at Bradford Crown Court to nine years for his part in the fraud while his wife was told she would serve two-and-a-half years in jail for money laundering. Ponzi schemes pay returns to investors from money paid by other investors rather than profits.
Accountant Richard Pollett was sentenced to six-and-a-half years. Judge Jonathan Durham-Hall QC said to Hirst: "You wanted it all - get rich quick.
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."