Michael Goodwin KC has been instructed to prosecute former Police Sergeant, Michael Stanley who pleaded guilty today (Thursday 7th March) to running a “Ponzi scheme” by defrauding members of a horse racing betting syndicate.
Mr Stanley, a company director, had headed the £44m Layezy Racing Syndicate (LRS). He ran a Ponzi type fraud and dishonestly misused his members’ money between 2013 and 2019. LRS grew to more than 6,000 members, before collapsing with a shortfall of about £10m.
Mr Stanley was charged with fraud by false representation, running a business for fraudulent purpose and fraudulent trading in relation to 3 corporate vehicles.
Mr Stanley pleaded guilty to all five offences.
Sentencing will take place at Maidstone Crown Court at a later date.
Michael Goodwin KC is instructed by the Serious Economic, Organised Crime and International Directorate (SEOCID), which includes prosecutors who specialise in fraud and economic crime. Michael Goodwin KC’s practice includes the full range of Business Crime & Fraud and white-collar criminal cases and he is instructed in high profile and complex fraud cases: [Michael Goodwin KC Profile ]
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