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David Aaronberg QC secures convictions prosecuting UK’s largest Ponzi scheme

A defendant believed to be the UK's most successful ‘Ponzi' fraudster, Nandan Pruthi, was jailed for 14½ years at Southwark following a prosecution led by David Aaronberg QC. Pruthi had obtained £38 million from unsuspecting investors by promising extravagant returns in his ‘investment' scheme. In reality, he was ‘robbing Peter to pay Paul', leaving victims with contractual losses amounting to £115 million and, in many cases, facing ruin.

Also jailed for operating unauthorised regulated investment schemes were John Anderson and Kenneth Peacock, who had acted as ‘aggregators', pooling money collected from investors which they forwarded to Pruthi.

For further details, see the following links:

• http://www.dailymail.co.uk/news/article-2110592/115m-Ponzi-scheme-fraudster-Kauitilya-Pruthi-conned-string-celebrities-faces-jail.html
• http://www.telegraph.co.uk/finance/financial-crime/9130175/Mastermind-behind-Britains-biggest-ever-Ponzi-scheme-Kautilya-Pruthi-faces-14-years-in-jail.html

26 March 2012

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