Forex boss Anthony Constantinou guilty of £70m ‘Ponzi’ fraud
A City boss once likened to the “Wolf of Wall Street” has been convicted of a £70 million fraud that promised investors a “remarkable” 60 per cent annual return.
A jury found Anthony Constantinou guilty in his absence yesterday after he absconded during the trial.
Constantinou, 41, had promoted a “Ponzi-style” investment scheme known as a managed account, which was provided mainly by a company referred to as Capital World Markets (CWM).
Prosecutors said that between 2013 and 2015 the company offered investors “remarkable” returns of about 5 per cent each calendar month, translating to a 60 per cent annual return, on purportedly risk-free transactions on the foreign exchange markets.
Nine years ago, one woman who worked with Constantinou described him to The Times as
