Two found guilty in UK’s largest ever Ponzi scheme

Two men have been found guilty of a £115m Ponzi fraud scheme, according to the BBC.

John Anderson and Kenneth Peacock were both found guilty of unlawfully accepting deposits from investors in what is the largest Ponzi fraud scheme in UK history.

A third member in the scheme, Kautilya Pruthi, has already admitted seven counts of fraud. The BBC says the jury is still debating on whether Anderson and Peacock deceived investors.

In March 2010, the High Court ruled that Pruthi, Anderson and Peacock, under their trading names Business Consulting International, John Anderson Consulting and Kenneth Peacock Consulting, unlawfully accepted deposits from UK consumers. (article continues below)

The judge ordered Pruthi to pay £89,798,938, Anderson £13,197,076. and Peacock £11,645,053 in June 2010.