CPS reports jailing of man running multi-million pound Ponzi scheme

Article summary

The Crown Prosecution Service (CPS) has reported that Anthony Vernon Parker, a man who convinced his friends and family to invest millions of pounds in his Ponzi scheme to fund his own lifestyle, has been sentenced to three years and four months imprisonment, at Leicester Crown Court on 5 January 2023. Parker plead guilty to one count of fraud by false representation and one count of participating in a fraudulent business. Parker had convinced 42 victims he was an investment manager and told clients he would invest their money in a ‘virtually risk-free' controlled gambling scheme involving currency trading and the stock market. This was actually a Ponzi scheme, whereby returns were paid to clients using other clients’ funds. Between January 2011 and March 2018, over £3.4m was invested with Parker, creating unrecoverable losses from 20 victims amounting to £1.09m.