Dacre lost £11.9m in fraud, Norwich court told
Norwich Christian entrepreneur Graham Dacre was allegedly tricked out of almost £12m by five men playing on his religious beliefs, a city court heard yesterday (February 13).
In what is believed to be the biggest alleged fraud case ever tackled by Norfolk Police, the philanthropist fell “hook, line and sinker” for the fraud in the hope of huge returns to fund charitable projects.
Norwich Crown Court heard that other victims of the fraud include a Utah commodities dealer, duped into parting with $900,000, and a wealthy German church, which lost 15m (euros).
Defendants Ian Yorkshire, Alan Hunt, Arthur ‘Trevor’ Ford-Batey, David ‘Fraser’ Roberts and Kevin Brennan allegedly defrauded Mr Dacre, above, of £11.9m.
The court was told the Norwich millionaire fell for the fraud, which involved opening a Swiss bank account and then making money through a high-yield trade platform, in May 2008.
All men deny the charges and the trial continues.
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