I spoke to him in the first year or two of him trading and he was trading commodities fx and all sorts of stuff and he gave no impression of punting for others at that point
You spelt punting wrong.
Punting , gambling , trading, guessing all part of the same lottery . if it sounds too good to be true then it usually is .
I wonder if he went into this scam with the sole intention of running a Ponzi scheme from the outset or somehow or another saw there was a way of fiddling the books that unintentionally became just that…..a classic Ponzi scheme. There was always talk that he was not the driving force behind it and that he was misled and manipulated by a third party. Not sure if that was an established fact, I rather doubt it as I believe no other person has been charged in connection with this scheme. Perhaps someone else can confirm….thanks.
As a footnote,I am expecting him to get around five years, most of which will be served in a cushy white collar open prison.
No other person has been charged and Rufus hasn't indicated that anyone else was involved. It was Rufus that met investors and portrayed himself as a highly successful City trader and used £2m of that money on his lavish lifestyle.
It is possible that Rufus benefitted from early trades with his own money and then decided that he would set himself up as an adviser. But he misrepresented himself in that respect because he wasn't authorised, lied about that and the returns he was going to achieve so was somewhat "pot committed" to paying out something comparable - and the only way that he could achieve that was by growing the number of investors. That, in itself, takes a lot of doing and front especially for someone who purports to have the moral compass that comes from being a Christian. Perhaps that is why people believed him given that it is known that he used the Church and their trust in him as a selling point.
He might have gone to church regularly but he can't have been a Christian in the true sense of the word. The bare faced lies he told goes against everything a Christian believes in.It takes some front to sit in front of family & friends and blatantly tell them a pack of lies over a number of months /years.
What, like the story of Noah you mean?
That's always been my favourite. 2 of everything wasn't it? Although fcuk knows what these animals all ate while they were cast adrift for 150 days .....
I got scammed out of money when i was a young teenager, not thousands, but enough to make me cry bitter tears!! Took me a long time to trust anybody, but it made me ultra cautious, never happened again.
I got scammed out of money when i was a young teenager, not thousands, but enough to make me cry bitter tears!! Took me a long time to trust anybody, but it made me ultra cautious, never happened again.
I got scammed out of money when i was a young teenager, not thousands, but enough to make me cry bitter tears!! Took me a long time to trust anybody, but it made me ultra cautious, never happened again.
I take it, by the username, it wasn’t a season ticket.
I got scammed out of money when i was a young teenager, not thousands, but enough to make me cry bitter tears!! Took me a long time to trust anybody, but it made me ultra cautious, never happened again.
I take it, by the username, it wasn’t a season ticket.
No it wasn’t it was a deposit for a flat, as you say I may have stolen pennies, but myself and my future wife of 47 years got stung for £1500 , so enjoy your LOL
Have to say, remembering Rufus' interviews as a player, he always came across pretty simple / limited upstairs, sure he's a matured a bit since then but based on my memory / perception of him then, I struggle to see how he'd be savvy enough to con this many people, or even if he was, wouldn't be able to cos he just came across too simple to be able to convince people. I'm obviously wrong though!
Have to say, remembering Rufus' interviews as a player, he always came across pretty simple / limited upstairs, sure he's a matured a bit since then but based on my memory / perception of him then, I struggle to see how he'd be savvy enough to con this many people, or even if he was, wouldn't be able to cos he just came across too simple to be able to convince people. I'm obviously wrong though!
Have to say, remembering Rufus' interviews as a player, he always came across pretty simple / limited upstairs, sure he's a matured a bit since then but based on my memory / perception of him then, I struggle to see how he'd be savvy enough to con this many people, or even if he was, wouldn't be able to cos he just came across too simple to be able to convince people. I'm obviously wrong though!
From my experience of dealing with numerous fraudsters and their victims over the years, I have one comment used by the vast majority of the victims: "But he seemed so nice".
My brutal response was usually: "Well, you wouldn't have given him any money if he'd come across as an obnoxious scumbag would you?"
For the fraudster, I don't think ability or intelligence really come into it very much. A thin (often very thin) veneer of urbane charm is what really counts. Along with the seeming trappings of success. I'm sure Rufus' Bentley would have helped in this regard.
There are two other factors that comes into play.
First, people unused to having ready access to quite large sums of money, actually find that don't like it very much. They get stressed about what to do with it. (I wonder whether Rufus' Church Trustees come into this category?) They are much happier giving it to someone else to "look after" for them. (That's why Golfie has a business after all.) So, that's why footballers, recent pensioners, people made redundant who have taken a large cash sum, or people that inherit money can be such prime targets for fraudsters. Here's an example. https://www.yorkshirepost.co.uk/news/crime/former-miner-from-yorkshire-says-pension-fraud-scammers-ruined-his-life-and-he-is-depressed-all-the-time-3665204 Many years ago now, but I recall an ex-miner giving a large five-figure sum over, in cash, to some bloke he had just met in a pub. He lost it of course.
Second, and it is difficult saying this but nonetheless true, many people are downright greedy. They see the claims of huge returns on offer, cannot resist it and common sense goes right out the window. They don't want to miss out. (I refer you to cryptos in this regard. People don't care that it's unregulated or that they know nothing at all about the product or the people that run it, they just want to join the bandwagon and get their snouts straight into the trough.)
A baffling decision when Curbs ( and Gritt?) made Rufus captain. Great player, but back then not a leader at all.
Clearly he's improved in that aspect in recent years...
Don’t believe Rufus was ever made captain as such, he wore the armband a handful of games in the absence of the likes of kinsella and Stuart I’m sure as deputy deputy captain probably but that was in the latter/ prem days, certainly never a captain back in the mid 90s when I he was a youngster.
From 2013 - the article offers a bit more information on how Rufus managed to get into his financial state. However, he wasn't allowed to solicit business or make a profit. Whether he broke the former regulation is debatable but he certainly profited from his business even if he made a loss for his clients. How he could plead "not guilty" in Court has to be down to his misguided belief that only God can judge him or he really is that stupid.
A former Premiership footballer turned financial consultant has been declared bankrupt after reported debts of £8 million.
Former Charlton Athletic defender Richard Rufus was officially declared bankrupt at Croydon County Court on 22 October 2013, under his full name Richard Raymond Rufus.
Following a series of injury problems, Rufus retired in 2004, and began to engage in finance, punditry, charity and religious works.
Rufus incorporated Monopoly Trading and Investments Ltd on 27 January 2005 and became a director in the firm. The firm, which dissolved in September 2013, undertook, “activities auxiliary to financial services, except insurance and pension funding.”
This class includes activities, such as activities of mortgage advisers and brokers, financial transaction processing and settlement activities, credit card transactions, and investment advisory services.
Rufus, 38, had previously entered into an Individual Voluntary Arrangement in November 2011 after a Bankruptcy petition was served by the FSA in May 2011. It is reported that his assets, consisting of a property portfolio and two cars, were frozen in early 2011 by the FSA.
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].
“Since then, I have accepted money from various family members and friends with entities which I have invested on the financial markets on their behalf. Two of the entities I have accepted money from are charities; being KICC and Rhema Church.”
Rufus was employed as a Director (Investor) at Kingsway International Christian Church (KICC) from 31st March 2009 until 17 May 2011. It is reported that Rufus owes KICC, who had given him money to invest in stocks and property, around £5 million. It is also alleged that the total amount owed to individual investor creditors is around £3 million.
In his recent bankruptcy report Rufus is listed as a financial consultant and according to his IVA Estimated Statement of Affairs, as at 17 October 2011, he also had a property portfolio of six properties:
- The Dove, 19 The South Border, Purley, Surrey estimated to be £1.9 million. With a Bank of Scotland mortgage in the sum of £2,079,210;
- 19 Scawen Close, Carshalton, Surrey valued at £254,000. Mortgage held by Cheltenham & Gloucester in the sum of £257,079;
- 57A Woolstone Road, Forest Hill, London valued at £240,000, with a mortgage held by Bank of Ireland in the sum of £257,999;
- 57B Woolstone Road valued at £110,000, with the mortgage with Bank of Ireland standing at £112,935;
- 57C Woolstone Road valued at £195,000 and the Bank of Ireland mortgage standing at £199,787;
- 142 Salehurst Road, Brockley valued at £249,995. The £241,000 mortgage is held by the Mortgage Business.
According to the statement, five of the six properties are worth less than their respective mortgages.
Rufus was also employed as a Director (Investor) at Hoyland Homes Limited from 25 July 2005, but resigned on 23 April 2010. Between 19 March 2007 and 24 August 2008, he was also employed as a Director and Property Developer at the Penu Foundation. In the Financial Services Register, Richard Raymond Rufus (RRR01023) is listed as an employee of SI Capital Ltd from 11 June 2009 to 25 February 2011.
The former defender made 288 appearances for Charlton Athletic during an 11-year career with the club, as well as representing the England U21 team six times. He was inducted into the Charlton Athletic Hall of Fame in May this year.
Baker Tilly is expected to be appointed to the bankruptcy.
'Monopoly Trading' seems a funny name to choose for a business. It suggests to me that he either wasn't aware of the dangerous nature of monopolies and the fact that they consequently get broken up or that he thought it was a big game. Either way, it's not a moniker that would encourage me to invest.
That said, the world seems festooned with stupid business names these days, so perhaps it's the sort of thing nobody cares about.
A baffling decision when Curbs ( and Gritt?) made Rufus captain. Great player, but back then not a leader at all.
Clearly he's improved in that aspect in recent years...
Don’t believe Rufus was ever made captain as such, he wore the armband a handful of games in the absence of the likes of kinsella and Stuart I’m sure as deputy deputy captain probably but that was in the latter/ prem days, certainly never a captain back in the mid 90s when I he was a youngster.
I'm pretty sure Rufus was briefly captain before Kinsella arrived, so when he was young.
By the time of the PL days we had loads of captaincy options
A baffling decision when Curbs ( and Gritt?) made Rufus captain. Great player, but back then not a leader at all.
Clearly he's improved in that aspect in recent years...
Don’t believe Rufus was ever made captain as such, he wore the armband a handful of games in the absence of the likes of kinsella and Stuart I’m sure as deputy deputy captain probably but that was in the latter/ prem days, certainly never a captain back in the mid 90s when I he was a youngster.
I'm pretty sure Rufus was briefly captain before Kinsella arrived, so when he was young.
By the time of the PL days we had loads of captaincy options
Happy to be proven wrong but I’m almost certain that wasn’t the case. Believe the captains then were Balmer and Chapple, Nelson wore the armband a few times too. Not impossible he wore the armband briefly but would be surprised if it was for more than 1 game or a few random minutes here or there.
From 2013 - the article offers a bit more information on how Rufus managed to get into his financial state. However, he wasn't allowed to solicit business or make a profit. Whether he broke the former regulation is debatable but he certainly profited from his business even if he made a loss for his clients. How he could plead "not guilty" in Court has to be down to his misguided belief that only God can judge him or he really is that stupid.
A former Premiership footballer turned financial consultant has been declared bankrupt after reported debts of £8 million.
Former Charlton Athletic defender Richard Rufus was officially declared bankrupt at Croydon County Court on 22 October 2013, under his full name Richard Raymond Rufus.
Following a series of injury problems, Rufus retired in 2004, and began to engage in finance, punditry, charity and religious works.
Rufus incorporated Monopoly Trading and Investments Ltd on 27 January 2005 and became a director in the firm. The firm, which dissolved in September 2013, undertook, “activities auxiliary to financial services, except insurance and pension funding.”
This class includes activities, such as activities of mortgage advisers and brokers, financial transaction processing and settlement activities, credit card transactions, and investment advisory services.
Rufus, 38, had previously entered into an Individual Voluntary Arrangement in November 2011 after a Bankruptcy petition was served by the FSA in May 2011. It is reported that his assets, consisting of a property portfolio and two cars, were frozen in early 2011 by the FSA.
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].
“Since then, I have accepted money from various family members and friends with entities which I have invested on the financial markets on their behalf. Two of the entities I have accepted money from are charities; being KICC and Rhema Church.”
Rufus was employed as a Director (Investor) at Kingsway International Christian Church (KICC) from 31st March 2009 until 17 May 2011. It is reported that Rufus owes KICC, who had given him money to invest in stocks and property, around £5 million. It is also alleged that the total amount owed to individual investor creditors is around £3 million.
In his recent bankruptcy report Rufus is listed as a financial consultant and according to his IVA Estimated Statement of Affairs, as at 17 October 2011, he also had a property portfolio of six properties:
- The Dove, 19 The South Border, Purley, Surrey estimated to be £1.9 million. With a Bank of Scotland mortgage in the sum of £2,079,210;
- 19 Scawen Close, Carshalton, Surrey valued at £254,000. Mortgage held by Cheltenham & Gloucester in the sum of £257,079;
- 57A Woolstone Road, Forest Hill, London valued at £240,000, with a mortgage held by Bank of Ireland in the sum of £257,999;
- 57B Woolstone Road valued at £110,000, with the mortgage with Bank of Ireland standing at £112,935;
- 57C Woolstone Road valued at £195,000 and the Bank of Ireland mortgage standing at £199,787;
- 142 Salehurst Road, Brockley valued at £249,995. The £241,000 mortgage is held by the Mortgage Business.
According to the statement, five of the six properties are worth less than their respective mortgages.
Rufus was also employed as a Director (Investor) at Hoyland Homes Limited from 25 July 2005, but resigned on 23 April 2010. Between 19 March 2007 and 24 August 2008, he was also employed as a Director and Property Developer at the Penu Foundation. In the Financial Services Register, Richard Raymond Rufus (RRR01023) is listed as an employee of SI Capital Ltd from 11 June 2009 to 25 February 2011.
The former defender made 288 appearances for Charlton Athletic during an 11-year career with the club, as well as representing the England U21 team six times. He was inducted into the Charlton Athletic Hall of Fame in May this year.
Baker Tilly is expected to be appointed to the bankruptcy.
He may have sought advice from the FSA (as it then was) but he would not have got a meaningful answer. The standard response was to say they could not provide a definitive interpretation of the law, only the Courts could do that. This is why large accountancy firms, etc make huge sums of money out of advising clients on regulated activities. If people could go to the FCA and get an answer for free, the accountancy firms' regulatory departments would be closed down overnight! As for the rest, if he'd been badly advised by an accountant or broker, surely he'd have sued them?
At least one ex addick got fined for drink driving
There's more than potential, we've had one before with all the correct playing positions (sadly I've lost the graphic ). We're way beyond XI now. From memory there's Ricky Otto, armed robbery. Abraham 'not so Kosher' Goodman, getaway driver. Mark Aizelwood, fraud. Marcus Bent, drugs. Someone (Ray Crawford?) was implicated in a betting scam. Elliot Omozusi was jailed for witness intimidation. Whilst Daren Bent was in trouble for shooting a kid with a BB gun.
At least one ex addick got fined for drink driving
There's more than potential, we've had one before with all the correct playing positions (sadly I've lost the graphic ). We're way beyond XI now. From memory there's Ricky Otto, armed robbery. Abraham 'not so Kosher' Goodman, getaway driver. Mark Aizelwood, fraud. Marcus Bent, drugs. Someone (Ray Crawford?) was implicated in a betting scam. Elliot Omozusi was jailed for witness intimidation. Whilst Daren Bent was in trouble for shooting a kid with a BB gun.
Perhaps an inevitable reaction to the long term emotional scar of getting charltonised.
It sometimes never leaves.
This could potentially be a documentary where a bow tie psychologist gets interview and explains what exactly happens to the brain after the subject plays for Charlton
Comments
if it sounds too good to be true then it usually is .
Took me a long time to trust anybody, but it made me ultra cautious, never happened again.
I bought shares in Charlton as well
Clearly he's improved in that aspect in recent years...
Doesn't seem a good idea to me.
From my experience of dealing with numerous fraudsters and their victims over the years, I have one comment used by the vast majority of the victims: "But he seemed so nice".
My brutal response was usually: "Well, you wouldn't have given him any money if he'd come across as an obnoxious scumbag would you?"
For the fraudster, I don't think ability or intelligence really come into it very much. A thin (often very thin) veneer of urbane charm is what really counts. Along with the seeming trappings of success. I'm sure Rufus' Bentley would have helped in this regard.
There are two other factors that comes into play.
First, people unused to having ready access to quite large sums of money, actually find that don't like it very much. They get stressed about what to do with it. (I wonder whether Rufus' Church Trustees come into this category?) They are much happier giving it to someone else to "look after" for them. (That's why Golfie has a business after all.) So, that's why footballers, recent pensioners, people made redundant who have taken a large cash sum, or people that inherit money can be such prime targets for fraudsters. Here's an example. https://www.yorkshirepost.co.uk/news/crime/former-miner-from-yorkshire-says-pension-fraud-scammers-ruined-his-life-and-he-is-depressed-all-the-time-3665204 Many years ago now, but I recall an ex-miner giving a large five-figure sum over, in cash, to some bloke he had just met in a pub. He lost it of course.
Second, and it is difficult saying this but nonetheless true, many people are downright greedy. They see the claims of huge returns on offer, cannot resist it and common sense goes right out the window. They don't want to miss out. (I refer you to cryptos in this regard. People don't care that it's unregulated or that they know nothing at all about the product or the people that run it, they just want to join the bandwagon and get their snouts straight into the trough.)
A former Premiership footballer turned financial consultant has been declared bankrupt after reported debts of £8 million.
That said, the world seems festooned with stupid business names these days, so perhaps it's the sort of thing nobody cares about.
I'm pretty sure Rufus was briefly captain before Kinsella arrived, so when he was young.
By the time of the PL days we had loads of captaincy options
As for the rest, if he'd been badly advised by an accountant or broker, surely he'd have sued them?
Shaun Newton tried to Rob a house?
I think Marcus bent got caught dealing cocaine
At least one ex addick got fined for drink driving
Perhaps an inevitable reaction to the long term emotional scar of getting charltonised.
It sometimes never leaves.
This could potentially be a documentary where a bow tie psychologist gets interview and explains what exactly happens to the brain after the subject plays for Charlton
Burger boys 11 v Cafc x cons
perhaps we could find a pitch in SE9 .