Richard Rufus Declared Bankrupt
Comments
-
It looks to me, that he started trading in 2003, when he was injured. Back then the FTSE was at around 3200, having fallen from 6900 in December 1999. You could close you eyes and pick a stock in the rising market & could hardly lose until 2007, when the financial crisis started to appear. The market peaked in 2007 at 6700 & then tumbled back to around 3400 by 2008. I think I can see what he did. It's always easier buying at a low, than getting out at a high.
Rufus stated within his IVA proposal: “I started trading on the markets with my personal funds in about 2003. From about 2007, I was approached by a number of family members and friends who asked me to invest funds for them. I sought advice from the FSA, accountants and my then investment brokers to confirm whether I was able to do so under the regulatory regime and was advised that I could do as long as I did not make a profit and I did not solicit business [NB: This is not proved/accepted by the FSA so far].0 -
Interestingly, according to the FSA from 11/06/09 to 25/02/11 he was authorised as a registered individual with a company called SI Capital also known as Simple Investments. Not suggesting that this company had anything whatsoever to do with the trades or aware of any possible activity outside their authority as I'm sure they would have been investigated a long time ago if that had been the case.Covered End said:It looks to me, that he started trading in 2003, when he was injured. Back then the FTSE was at around 3200, having fallen from 6900 in December 1999. You could close you eyes and pick a stock in the rising market & could hardly lose until 2007, when the financial crisis started to appear. The market peaked in 2007 at 6700 & then tumbled back to around 3400 by 2008. I think I can see what he did. It's always easier buying at a low, than getting out at a high.
Rufus stated within his IVA proposal: “I started trading on the markets with my personal funds in about 2003. From about 2007, I was approached by a number of family members and friends who asked me to invest funds for them. I sought advice from the FSA, accountants and my then investment brokers to confirm whether I was able to do so under the regulatory regime and was advised that I could do as long as I did not make a profit and I did not solicit business [NB: This is not proved/accepted by the FSA so far].
As a passing comment the above named company's Founder and CEO is one Renato Rufus:
simple-investments.co.uk/about-simple/our-people/renato-rufus
0 -
More evidence to back up my earlier assertion that You are thus probably forced to invest that pot in a fairly aggressive way to try to generate the income and gains required to maintain a decent quality of life, yet you have no experience in that area (and are prime fodder to be fleeced).
However far from being fleeced it seems he was very much the architect of his own downfall (seemingly having remortgaged his main home and investment properties to the hilt along the way).0 -
From the Daily Mail:
Richard Rufus, the former footballer voted Charlton’s greatest ever defender in 2005, appears at a High Court bankruptcy hearing on Wednesday to face multi-million-pound fraud charges.
Rufus is understood to have debts of more than £18million, having allegedly misappropriated funds trusted to him by 93 investors. The official receiver, who lodged the application for a bankruptcy restriction order, has 16 files of evidence against the 40-year-old.
Separately, the Church Commissioners are investigating how £5m given by Kingsway International Christian Centre in Walthamstow to trustee Rufus — a born-again Christian — to invest has gone missing.
Former Charlton defender Richard Rufus (right) is understood to have debts of more than £18million
One of many people owed money by Rufus is former Chelsea star Paul Elliott, a close family friend who counselled Rufus when he suffered the same career-ending cruciate ligament injury as him. The much-respected Elliott stood down from important positions in the game after a text message exchange emerged in which he called fellow black footballer Rufus a ‘n*****’.
Two years on, Elliott is just starting to regain his high-level footballing roles after a fanciful libel action by Rufus against him was dismissed.
Rufus has missed a number of court hearings saying ‘God is my only judge’.
0 -
God is my only judge? Who's he think he is? Tony Blair?10
-
Christ, that doesn't sound good....
Edit: didn't mean the religious pun, but I'll keep it in there2 -
Yes, if I had 5 million quid to "invest" I'd definitely give it to an ex pro footballer who left school at 16 and who probably doesn't even know what a balance sheet even is.mart77 said:From the Daily Mail:
Richard Rufus, the former footballer voted Charlton’s greatest ever defender in 2005, appears at a High Court bankruptcy hearing on Wednesday to face multi-million-pound fraud charges.
Rufus is understood to have debts of more than £18million, having allegedly misappropriated funds trusted to him by 93 investors. The official receiver, who lodged the application for a bankruptcy restriction order, has 16 files of evidence against the 40-year-old.
Separately, the Church Commissioners are investigating how £5m given by Kingsway International Christian Centre in Walthamstow to trustee Rufus — a born-again Christian — to invest has gone missing.
Former Charlton defender Richard Rufus (right) is understood to have debts of more than £18million
One of many people owed money by Rufus is former Chelsea star Paul Elliott, a close family friend who counselled Rufus when he suffered the same career-ending cruciate ligament injury as him. The much-respected Elliott stood down from important positions in the game after a text message exchange emerged in which he called fellow black footballer Rufus a ‘n*****’.
Two years on, Elliott is just starting to regain his high-level footballing roles after a fanciful libel action by Rufus against him was dismissed.
Rufus has missed a number of court hearings saying ‘God is my only judge’.2 -
Hopefully, God can lend him a few quid....3
-
Perhaps, in the light of these disclosures, the much maligned Paul Elliott is not quite the bad guy some people think he is. And for all that Richard Rufus gave to Charlton on the pitch, there clearly have been some failings off it.
Rufus has refused to attend court because "God is my only judge". And yet he chose the courts to pursue an action against Elliott rather than let God judge him. I would call that somewhat hypocritical.
12 -
Sounds like he's lost it completely.0
- Sponsored links:
-
I didn't know attending court was optional, thought police arrest you if you don't turn up.0
-
Don't understand the link between a bankruptcy hearing and "fraud charges". The former is a civil matter; the latter criminal. Surely the OR would have passed any fraud allegations on to the police or FCA to deal with?
As ever with a Daily Fail article, there's more left out than put in.0 -
More like David Icke.Riviera said:God is my only judge? Who's he think he is? Tony Blair?
0 -
‘God is my only judge’.
He hasn't got that bit right either.0 -
BTW, the quote from Rufus about being advised by the FSA that he could do what was proposed as long as he didn't make a profit is rubbish. The test as to whether you need authorisation is whether you are conducting a regulated activity "in the course of carrying on a business": profitability is neither here nor there (otherwise RBS would hardly need to be regulated would it?).1
-
He's back on our pay roll coaching one of our youth teams.Dazzler21 said:Sounds like he's lost it completely.
Although he's clearly made some poor decisions since finishing football, I'm always wary of judging too much on the basis of articles in horrible newspapers, or any newspapers for that fact. Stuff like "£18m of debt!" and"God is my only judge" is probably just sensationalism and I'd take it with a pinch of salt.4 -
Perhaps it's his coaching that has caused him to miss a number of court hearings.HandG said:
He's back on our pay roll coaching one of our youth teams.Dazzler21 said:Sounds like he's lost it completely.
Although he's clearly made some poor decisions since finishing football, I'm always wary of judging too much on the basis of articles in horrible newspapers, or any newspapers for that fact. Stuff like "£18m of debt!" and"God is my only judge" is probably just sensationalism and I'd take it with a pinch of salt.0 -
It doesn't look good. At best he looks naive and out of his depth. At worst... well God will be his judge0
-
Such a shame, because what a player, what a player. One of our very best ever.8
-
He was at Brentford last Tuesday.HandG said:
He's back on our pay roll coaching one of our youth teams.Dazzler21 said:Sounds like he's lost it completely.
Although he's clearly made some poor decisions since finishing football, I'm always wary of judging too much on the basis of articles in horrible newspapers, or any newspapers for that fact. Stuff like "£18m of debt!" and"God is my only judge" is probably just sensationalism and I'd take it with a pinch of salt.1 - Sponsored links:
-
I still love him, I wouldn't give him my dough to watch but the man gave me years of pride watching him
And for his first goal to come in that match let me know that he was one of us that day8 -
I'd rather wait until what comes out the court ruling before passing judgement to be honest10
-
Applying many criteria including ability and loyalty, I have him as the best Charlton player in my lifetime, and he has some stiff competition there. I don’t know the ins and outs of his financial issues and don’t really want to. My judgement of him will always be focused on when he put on the red shirt.2
-
http://www.portsmouth.co.uk/news/pompey-hero-linvoy-primus-rubs-shoulders-with-prince-william-at-mbe-ceremony-1-6752708
On a happier note, Linvoy Primus got his MBE yesterday12 -
Thisnth london addick said:I still love him, I wouldn't give him my dough to watch but the man gave me years of pride watching him
And for his first goal to come in that match let me know that he was one of us that day0 -
You're not the messiah, you're a very naught boy!AFKABartram said:I'd rather wait until what comes out the court ruling before passing judgement to be honest
1 -
God is my only judge0
-
Richard Rufus is a cafc legend and always will be
9 -
I love my wife dearly but if I found she'd diddled me out of all my investments I think that love might diminish somewhat.4
-
ain't my money1
