County man, 56, in fraud hearing
Friday 6th March 2009, 4:59PM GMT.
A Shropshire man played a leading role in a multi-million pound investment fraud which fleeced dozens of clients across Europe, a court heard today.
Thiery Doutrepont, 56, is said to have been the “right hand man” for London-based Marc Duchesne who set up the bogus hedge fund investment operation which netted almost 15 million euros.
At Southwark Crown Court today Doutrepont, of Beech House, Little Wenlock, was due to be sentenced along with 47-year-old Duchesne and two others – including a man from Walsall. The court heard Duchesne, described as an accomplished fraudster, had set up a company named Benchmark Asset Managers in 2005.
Mr Stephen Winberg, prosecuting, said that Duchesne had created an image of enjoying a multi-million pound lifestyle and rented a penthouse at Canary Wharf, shopped regularly at Harrods, drove a Ferrari Enzo, was chauffeur driven in a Rolls Royce Phantom and had use of a private jet.
“This was intended to attract people with huge wealth and high spenders to invest in hedge funds recommended by Benchmark Asset Managers, but it was a fraud from the start.”
Doutrepont admitted three offences of making reckless promises to three UK investors. Duchesne has admitted conspiracy to defraud. The hearing continues.
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