Originally posted by MarillionFan
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Darren Upton goes down for 6 years
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Originally posted by Bagpuss View PostThis is after he was already in trouble from his failed Ponzi schemeComment
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Originally posted by Bagpuss View PostI don't know many people who would steal 500k for it or lose a thriving business. This is after he was already in trouble from his failed Ponzi scheme, and after the birth of his little one.What happens in General, stays in General.You know what they say about assumptions!Comment
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Originally posted by AtW View PostWas it really a Ponzi scheme? It was illegal under FSA rules I believe and at the time I thought he was just stupid to do it since vast majority of money got returned, normally in Ponzi schemes they don't get returned or very little.
First thing I thought when the police told me what had gone on (nearly a year ago) was this guy must have a hidden problem, I thought maybe drugs or gambling, turns out it was funding a bit of the other.
So in total, he's stolen/ misappropriated the best part of two million quidLast edited by Bagpuss; 9 February 2012, 19:20.The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”Comment
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Originally posted by Bagpuss View PostIn the end £1,220,782 wasn't paid back, FSA agreed to let him pay 840k, 10,000 for 84 months.
An academical difference in this fiasco - I did not realise so much more stuff was going on
I feel sorry for Tina and her child and obviously for the victims of this fraud: 6 years in jail however is a pretty harsh sentence that I certainly did not expect to come out of this one!Comment
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I don't really want to get into semantics, most of the money wasn't invested, and it had the hallmarks of a Ponzi scheme. But whatever happened these people lost a lot.
With respect to who you feel sorry for: Allegedly the staff were told by one of the Uptons ;-) not to say anything to clients when the police first got involved. Thankfully they didn't follow that unethical advice or most likely even more would have been stolen.Last edited by Bagpuss; 9 February 2012, 19:33.The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”Comment
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Originally posted by AtW View Post6 years in jail however is a pretty harsh sentence that I certainly did not expect to come out of this one!
Also hardly anyone serves their full sentence particularly if they admit they are guilty and ask for other crimes to be taken into consideration."You’re just a bad memory who doesn’t know when to go away" JRComment
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Originally posted by SueEllen View PostAlso hardly anyone serves their full sentence particularly if they admit they are guilty and ask for other crimes to be taken into consideration.Comment
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Originally posted by AtW View PostYes but when he is out his wife will be waiting for him and maybe even his mistress
It's Tina and the little one I feel sorry for."You’re just a bad memory who doesn’t know when to go away" JRComment
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Originally posted by SueEllen View PostThe "mistress" who is a part-time "model" will move on to another Sugar Daddy.
It's Tina and the little one I feel sorry for.Comment
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