Sad news from the popular bar
A fraud trial jury has heard evidence from a number of investors who allegedly failed to get their money back after putting it into a Spalding based lottery syndicate.
It is claimed Toynton was involved in the scheme, along with spread betting trader Ross Gibson, 27, who has pleaded guilty to his role.In a statement which was read to the jury, businessman David Townsend described how he invested in the scheme after hearing about it from a friend called Chris Edwards in March 2018.
Mr Townsend admitted he was aware that losses could be made, but said it was his understanding that only 20-30% of any money invested would be at risk and that withdrawals could be made at any time.The jury heard Mr Townsend made two deposits of £300 before investing just over £11,000 in May 2018. Another investor, who put in a substantial sum of money, said they were told the scheme had been going since late 2017 and had grown every week.The jury were told the scheme eventually collapsed due to insufficient funds, and Lincolnshire Police began an investigation.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Botany Bay's iconic mill refurb and reopening with rooftop terraceBotany Bay's iconic mill set to be refurbished and re-opened with rooftop terrace as plans finally lodged
Read more »
Random act of kindness: Free coffee at Lincoln drive-thruRandom act of kindness: Free coffee at Lincoln drive-thru
Read more »
Family LEGO workshops at Collection Museum in LincolnTickets still available for this weekend
Read more »
Blackburn estate set for new terrace as part of £20m makeoverBlackburn’s Shadsworth estate is receiving an urgent overhaul
Read more »
Pubgoers fear impact of apartment conversion on Lincoln venueIt's going before councillors next week
Read more »
Sorry Microsoft: not even a full-page ad will make people want to use EdgeMicrosoft continues its desperate attempt to convert more users to Edge
Read more »