A UK currency trader living in Turkey has disappeared and nearly $200 million in customer money is missing as well. Speculation is that he is on the run in Asia after reportedly taking investments from relatives and family friends as well as professional athletes, leaving them all potential victims of a fraud.
British police are investigating what is alleged to be the largest fraud in the island’s history, according to a UK Telegraph press report. If true, the $200 million fraud, while similar in some respects to Bernie Madoff’s infamous U.S. fraud, pales in comparison to the size of Madoff’s $65 billion take.
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