Siddhesh Joshi (Editor)

Russell King (fraudster)

Updated on
Edit
Like
Comment
Share on FacebookTweet on TwitterShare on LinkedInShare on Reddit
Name
  
Russell King

Role
  
Fraudster


Russell King walking with a cane, wearing eyeglasses, a watch, a black long sleeve shirt, and black pants with Sven-Goran Eriksson carrying a handbag wearing a white shirt under a black coat, black pants, and eyeglasses


Born
  
April 11, 1959 (age 64)

Criminal charge
  
25 counts of fraud and larceny

Capture status
  
Released from custody

Wanted since
  
2008

Time at large
  
Ten years

Imprisoned at
  
Jersey

Nationality
  
British

Similar
  
Steven Kunes, Fred Malek, Rose Marks

The trillion dollar con man russell king documentary english part 1


Russell King (born 11 April 1959) is a convicted fraudster. He headed negotiations and acted as consultant for the doomed purchase of Notts County Football Club by Munto Finance, a subsidiary of Qadbak Investments.

Contents

Russell King walking with a cane, wearing eyeglasses, a watch, a black long sleeve shirt, and black pants

Background

Russell King looking at Sven-Goran Eriksson with a beard and mustache and wearing a black shirt under a black coat, a necktie, and watch while Sven-Goran Eriksson talking and wearing a white shirt under a black coat, a blue necktie and eyeglasses

King is 58–59 years old. and is a former resident of Jersey.

Insurance fraud

In 1991, King was sentenced to two years in prison for insurance fraud after trying to claim £600,000 for his Aston Martin after claiming it had been stolen. It was discovered that he had hidden it in his garage.

Notts County F.C. purchase

King acted as head negotiator and consultant for the purchase of Notts County Football Club to Munto Finance, a subsidiary of Qadbak Investments, making the false claim that he was a manager of billions of US dollars of the Bahraini royal family's money.

Although claiming to have had no legal involvement in the scheme, King was able to negotiate the sale of the football club for 1 pound. He also recruited former England football manager Sven-Göran Eriksson to join promising him a large sum if he also worked for Swiss Commodity Holding (SCH). King claimed the mining company had raw material assets worth $1.97 trillion (£1.27 trillion). He used the nickname of L. Voldemort, after the Harry Potter character Lord Voldemort, and then he told many times that he couldn't be involved because his name, Russell King, didn't appear in any documents.

The club was sold five months after the purchase with debts of £7 million.

North Korea

King, representing Swiss Commodity Holding (SCH), visited North Korean Chairman Kim Yong-nam of the Supreme People's Assembly in Pyongyang. Sven-Göran Eriksson joined King on the trip. The purpose of the visit was to persuade the government to hand over gold mining rights in exchange for billions of US dollars allegedly from Bahraini investors.

Sauber

Sauber, seeking a new investor encountered Qadbak Investments. The deal collapsed as it was revealed that King was behind the company.

Current status

Jersey-based company Close Finance is seeking repayment of £2m loans. This has resulted in a freeze of his assets up to that amount.King is currently being sought by the British police, the Serious Fraud Office, the Financial Services Authority, and Nottinghamshire Police

Although denying any fraud, King remains a fugitive. He is currently living in Bahrain but is barred by Bahraini officials from leaving the country.

List of organizations associated with King

This is a list of organizations that were allegedly either victim of, or controlled by, King.

  • Notts County F.C. - Football club purchased by Munto Finance.
  • First London plc. - On the pretense of managing billions of dollars on behalf of the Bahraini royal family, King gained a 49% interest in this firm. This company went into administration (a form of bankruptcy) with debts of 8 million pounds.
  • First London Group plc. - Parent company of First London plc. that suffered "significant financial damage" from Russell King
  • Swiss Commodity Holding (SCH) - Now renamed Coremin
  • Qadbak Investments - Parent company of Munto Finance.
  • Belgravia Group - Collapsed financial services firm. King is currently under investigation by the Serious Fraud Office of the Jersey Financial Services Commission in connection with his role in its collapse. The firm once tried to buy Newcastle United. The firm was about to be acquired by First London, but the Jersey authorities blocked the deal.
  • Munto Finance - A subsidiary of Qadbak Investments, this company is registered in the British Virgin Islands, claimed to be Middle Eastern, purchased the Notts County F.C.

    • References

    Russell King (fraudster) Wikipedia
    (Text) CC BY-SA


    Similar Topics