Kevin Foster (fraudster)
Kevin Foster (born 1958/1959) is an English investment fraudster, convicted of 14 counts of deception and theft in relation to his operation of a £34m (approx $51m) Ponzi scheme, which ran from 2002 to 2004.
Kevin Foster | |
|---|---|
| Born | 1958/1959 |
| Nationality | British |
| Occupation(s) | Former cab driver, gambler, investment scheme operator |
| Known for | KF Concept Ponzi scheme |
| Conviction(s) | Theft and deception relating to investment schemes |
| Criminal penalty | 10 years imprisonment |
By the time Foster was stopped, police discovered his scheme, originally called KF Concept but later renamed to Phase 9, had taken money from 8,500 investors, mainly drawn in through his series of flamboyant roadshows across the UK.
In 2010, Foster was sentenced to 10 years imprisonment, though that was reduced to 9 years on appeal after several convictions were overturned.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.