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Ex-Premier League soccer star Richard Rufus tells £15m fraud trial he’s ‘completely remorseful’ 

Ex-Premier League star Richard Rufus, {accused} of scamming traders out of £15m, mentioned he’s ‘completely remorseful’ for dropping his household and mates tens of 1000’s of kilos.

The previous Charlton Athletic defender drove a Bentley and lived on an unique personal property on the cash he was swindling, jurors have heard.

Rufus, 47, who was capped six occasions by the England under-21s, denies fraud and claims he was making an attempt to generate income for his mates and associates by investing their money.

He advised Southwark Crown Courtroom he was not appearing dishonestly with any funds he obtained from traders.

Ex-Premier League star Richard Rufus drove a Bentley and lived on an exclusive private estate on the money he was swindling, jurors have heard

Ex-Premier League star Richard Rufus drove a Bentley and lived on an unique personal property on the cash he was swindling, jurors have heard

The former Charlton Athletic defender, accused of scamming investors out of £15m, said he is ‘absolutely remorseful’ for losing his family and friends tens of thousands of pounds

The previous Charlton Athletic defender, {accused} of scamming traders out of £15m, mentioned he’s ‘completely remorseful’ for dropping his household and mates tens of 1000’s of kilos

Mr Simon Spence KC requested Rufus: ‘Do you settle for they [his investors] misplaced cash, and a few of them some huge cash?’

Rufus mentioned: ‘Sure. I’m completely remorseful for my household and mates. It began to assist them to generate income and within the early 2000s that’s what we did.

‘We carried it on to the mid-2000s and I at all times had a very good intention. I’ve misplaced completely every thing and I don’t need individuals to really feel sorry for me.

‘Although it has made me bankrupt, it’s nonetheless my intention to make amends in relation to what occurred. Particularly watching my household and mates step into this witness field this previous week.’

Rufus’ house was repossessed in 2012 and was declared bankrupt in October 2013.

Talking of how he handled his investments, Rufus mentioned: ‘I used to be simply investing on behalf of my household and mates. They have been giving me a small portion of their funds and I might use it at my discretion.’

Rufus mentioned he used six completely different mechanisms and strategies to mitigate the danger of his investments, together with technical evaluation, cease loss and participating in his personal ‘continuous skilled improvement.’

Former Aston-Villa defender Paul Elliott was one among Rufus’ mates who invested in him.

Rufus mentioned Mr Elliott obtained £55,000 greater than what he put into the funding fund.

He mentioned: ‘I used to be supporting his household for a substantial period of time as effectively. He wanted to pay for his mortgage.’

Former Aston-Villa defender Paul Elliott was one of Rufus’ friends who invested in him

Former Aston-Villa defender Paul Elliott was one among Rufus’ mates who invested in him

Their funding settlement additionally included a ‘favour not for revenue clause’ which prevented Rufus from earning money from his investments.

He mentioned it was ‘completely not’ the case that he had advised Elliot he made ‘colossal’ income for the Kingsway Worldwide Christian Centre.

‘There isn’t any method I might disclose confidentiality to anyone else and I might not be discussing any finance determine with anyone.’

Even after his Santander and Barclays financial institution accounts have been frozen, Rufus was given sure residing bills out of his frozen property from the FSA.

He mentioned he would withdraw money and hand it over to Mr Elliott.

Different traders, Rufus mentioned, have been capable of be happy in the event that they wanted to recall their cash due to his funding portfolio within the USA.

‘In America, I had individuals buying and selling on my behalf. I had one funding performed by Michael Buckland which had been compounding for a while. I met him on a seminar.

‘His background was an expert dealer, investing and buying and selling on behalf of banks.’

Mr Spence requested: ‘Is there any cause you didn’t clarify the true place to those that have been investing in your Overseas Alternate?’

Rufus mentioned: ‘Probably not, as a result of I had the investments in America.’

He confirmed that he took investments ‘in good religion’ since he believed he would be capable to get well any losses.

Rufus, of Anerley Hill, Crystal Palace, south London, denies three counts of fraud by false illustration, one rely of possessing prison property and one rely of finishing up a regulated exercise when not authorised.

The trial continues.

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