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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.

 
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