Gang conned investors out of £10m

The Press Association: Gang conned investors out of £10m: "Victims paid thousands of pounds to gang members, wrongly believing they would receive a handsome profit for joining the scheme. The six men, described by the police as 'sharks', were involved in a 'premeditated deception' that saw people lose their homes and life savings.
Details of the scam were made public after a judge lifted an order banning reporting of the case. American businessman John Francis Napoli, 51, was due to be sentenced at Southwark Crown Court, London, for his role in the fraud. Judge Anthony Pitts adjourned the hearing until February 17 as Napoli, of Sevenoaks, Kent, has expressed a desire to repay some of the victims' money and is awaiting a loan.
The ringleader of the gang was Vibhawa Fonseka, a Sri Lankan from a well-known family who targeted members of his own community. Detective Chief Inspector Robin Cross of the Metropolitan Police said Fonseka had behaved in a 'despicable' manner for abusing his position of trust."

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