A conman who ran a Ponzi scheme where he tricked rich investors into pumping around £25million into his company so that he could live a luxurious lifestyle with his wife has been jailed for nine years.
Rhys Williams, 41, and his wife Lisa, 40, of Llangristiolus, Anglesey, Wales, splurged money on renting two Spanish homes including a six-bedroom mansion, holidays to the Middle East, shopping and nightclubs.
He wore Rolex watches, smoked Cuban cigars and posed with guns while his wife wore designer handbags and expensive jewellery on the streets of Marbella.
Birmingham Crown Court heard that Mr Williams ran a Ponzi scheme where he tricked wealthy investors into pumping around £25million into his company.
Rhys Williams, 41, and his wife Lisa, 40, of Llangristiolus, Anglesey, Wales, splurged money on renting two Spanish homes including a six-bedroom mansion, holidays to the Middle East, shopping and nightclubs
Rhys Williams was jailed for nine years and Lisa Williams was handed a 16 month sentence suspended for two years
But instead of the money being traded to grow, pay-outs to shareholders were funded by their own deposits and the Williams’ were spending their cash.
Rhys Williams was jailed for nine years and Lisa Williams was handed a 16 month sentence suspended for two years.
Prosecutor Andrew Haslam KC said: ‘The rest of the money was spent living the high life in Spain. They had spent all of the money within a couple of months.’
Mr Haslam said the couple…
