Convictions for ‘ponzi’ scheme trio

THE masterminds behind a “ponzi” scheme that raked in £10m from investors in the UK and Spain have been convicted.

John Hirst, of Huddersfield Road, Brighouse, was the main architect of the scheme with financial adviser Richard Pollett, of Poole.

Hirst admitted conspiracy to defraud and money laundering. Pollett was found guilty of conspiracy to defraud after a trial at Bradford Crown Court.

John Hirst’s estranged wife Christine, now living in Surrey, was found guilty of money laundering and evading liability by deception.

The scheme, trading as Giher Inc, attracted £10m from investors with around £5m thought to have been siphoned off by the fraudsters.

Investors were told their money was being invested in the US stock market but the truth emerged after complaints led the Serious Fraud Office to begin an investigation in 2009.

John and Christine Hirst and Pollet will be sentenced on August 31. Two other defendants, Daniel Hirst and Zoe Waite, were acquitted.