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Man denies fleecing investors of £2.8m to fund luxury lifestyle


By PA News

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A man accused of fleecing investors out of £2.8 million to fund his luxurious lifestyle, which included a £180,000 Lamborghini Aventador, has appeared in court (PA)

A man accused of fleecing investors out of £2.8 million to fund his luxurious lifestyle, which included a £180,000 Lamborghini Aventador, has appeared in court.

Prosecutors say large sums of money invested in Zurich Private Capital were transferred into bank accounts controlled or used by Jonathan Allard, 37.

He is accused of spending the cash from the alleged scam on a high-end lifestyle, with police seizing valuable belongings, including the exotic sports car, when he was arrested in November 2016.

Allard appeared at Westminster Magistrates’ Court on Wednesday charged with two counts of fraud, money laundering, and four counts of possessing articles for use in a fraud between January 2013 and December 2017.

Allard is also accused of making a false insurance claim to Ascot Underwriting Limited under his high net worth household policy.

He pleaded not guilty to all charges.

District Judge Annabel Pilling said: “Because these matters are so serious, they have to be dealt with by a judge and jury at the crown court.”

Allard was granted bail on the condition he lives at his apartment in Riverlight Quay, Nine Elms, south-west London; surrenders his passport; does not contact investors in Zurich Private Capital.

He is now due to appear at Southwark Crown Court on February 23.

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