Friday, Oct 24, 2014Friday, Oct 24, 2014
Singapore
 

Two British bankers jailed over $3m investment scam

Published on Jun 9, 2014 6:43 PM
 
Two British bankers,Timothy Nicholas Goldring (left) and John Andrew Nordman were jailed for a total of 15 years on Monday, June 09, 2014, over a bonds scam in which investors lost more than $3 million. -- ST PHOTO: WONG KWAI CHOW 

SINGAPORE - Two British bankers were jailed for a total of 15 years on Monday over a bonds scam in which investors lost more than $3 million.

Timothy Nicholas Goldring, 60, and John Andrew Nordman, 55, were convicted on 18 proceeded charges of cheating - involving $915,000 worth of investments - after a 64-day joint trial.

They were sentenced to seven and eight years' jail respectively. Both men plan to appeal.

Investors lost some $3.1 million in the Boron bonds scheme between November 2008 and August 2010. The two directors of land banking firm Profitable Plots promised 12.5 per cent in returns within six months.

 
If you are not a subscriber, you can get instant, unlimited access here

Videos