The boss of a London foreign-exchange investment firm accused of defrauding investors out of £50 million ($62.2 million) has “voluntarily absented” himself from his London trial.
(Bloomberg) — The boss of a London foreign-exchange investment firm accused of defrauding investors out of £50 million ($62.2 million) has “voluntarily absented” himself from his London trial.
Anthony Constantinou, who ran Capital World Markets Ltd., is accused of seven offenses including fraudulent trading, after prosecutors claimed he ran a Ponzi-style scheme that lured in investors with promises of eye-catching returns.
“You will see that the defendant is not here,” Judge Gregory Perrins told the jury at a hearing at London’s Southwark Crown Court Tuesday. “He has voluntarily absented himself.”
“It is not in any way an admission of guilt in his part, he has maintained his not guilty pleas,” said Perrins, confirming that the trial will continue to go ahead without him.
Constantinou, who denies all of the charges, was present in court for the first part of the three month trial that started in March.
A lawyer for Constantinou didn’t immediately respond to a request for comment. His lawyers have yet to set out his defense arguments.
The prosecution previously told the jury that Constantinou’s scheme was made to look successful through lavish spending that was diverted from the purported investments.
Individual investors, including a group from the Nepalese Gurkha community, were impressed with the firm’s luxury London-based Heron Tower offices and sponsorship deals with Chelsea Football Club and boxing tournaments.
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