Former Premier League footballer who played for Charlton Athletic, Richard Rufus  is facing trial after allegedly carrying out a £2.5million ponzi scheme investment fraud.He is accused of luring investors into a massive foreign currency scam,  then spent the cash on "personal expenses and lifestyle", it is said.

Rufus was due to stand trial later this month but it was delayed as no judge was available.

A new date has been provisionally set for November 20 next year.

Rufus denies three counts of fraud by false representation and one count of possession criminal property.

He has also pleaded not guilty to one count of carrying out a regulated activity when not authorised.

The charges allegedly took place between May 2007 and April 2012.

Rufus' criminal investigation followed a Charity Commission report into “mismanagement” at Kingsway International Christian Centre (KICC), a church founded Pastor Matthew Ashimolowo, which invested £5m with the former Charlton Athletic player.

Rufus was found by a civil court judge in 2015 to have operated a Ponzi-style scheme between 2007 and 2011, losing or spending £8m from several investors.

Rufus was a leading member of the KICC whose “founder, visionary and senior pastor” is Ashimolowo, a Nigerian evangelist.

In 2009 and 2010 the trustees agreed to give Rufus £5m to invest after he promised them returns of 55% a year at a time when interest rates were less than 1%. As well as millions in donations from churchgoers – which were boosted by gift aid tax relief – it had recently received £10m from the London Development Agency, a public body that needed to demolish the church’s then home in east London to build the Olympic Park.
L-R: Richard Rufus, Pastor Matthew Ashimolowo

Former Premier League footballer who played for Charlton Athletic, Richard Rufus is facing trial after allegedly carrying out a £2.5million ponzi scheme investment fraud.

 

He is accused of luring investors into a massive foreign currency scam, then spent the cash on “personal expenses and lifestyle”, it is said.

 

Rufus was due to stand trial later this month but it was delayed as no judge was available.

 

A new date has been provisionally set for November 20 next year.

 

Rufus denies three counts of fraud by false representation and one count of possession criminal property.

 

He has also pleaded not guilty to one count of carrying out a regulated activity when not authorised.

 

The charges allegedly took place between May 2007 and April 2012.

 

Rufus’ criminal investigation followed a Charity Commission report into “mismanagement” at Kingsway International Christian Centre (KICC), a church founded Pastor Matthew Ashimolowo, which invested £5m with the former Charlton Athletic player.

 

Rufus was found by a civil court judge in 2015 to have operated a Ponzi-style scheme between 2007 and 2011, losing or spending £8m from several investors.

 

Rufus was a leading member of the KICC whose “founder, visionary and senior pastor” is Ashimolowo, a Nigerian evangelist.

 

In 2009 and 2010 the trustees agreed to give Rufus £5m to invest after he promised them returns of 55% a year at a time when interest rates were less than 1%. As well as millions in donations from churchgoers – which were boosted by gift aid tax relief – it had recently received £10m from the London Development Agency, a public body that needed to demolish the church’s then home in east London to build the Olympic Park.

By obio

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