Someone (Ray Crawford?) was implicated in a betting scam.
Ray Crawford is innocent! He played against Sheff Weds the day some of their players bet on them to lose but had no involvement with the chicanery. Honest, Guv.
The ex-addick in the betting scam was Jimmy Gauld.
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.
Bad timing for him to go bankrupt. 2011 was around the peak of the financial crisis where lots of people were in negative equity (as can be shown above). A few years later (say 2015) then I expect all the properties would have been well covered.
I also echo a pp regarding the name of his Company. Monopoly Trading??? Wtf ?? He either is a'sandwhich short of a picnic or he really was bent.
Out of interest, I noticed his FSA number. I don't know how these were allocated & part of me assumes they were sequential to when you were registered. As it happens mine ends ...00012. As I say, I've been doing this job a while 🙂
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.
Start of the season 96/97 he captain until he got injured in front of the likes of Balmer and Chapple (Nelson had then moved onto Torquay)
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.
I’m happy to be proved wrong too but I also have a memory of him being captain at least a couple of times at the Valley.
I assume the law has properly run it’s course. Tragic story for all of us who loved him as a footballer, which I most certainly did, no retrospective alteration on that from me. The victims of Rufus are now the ones who deserve our compassion and attention.
That's at the top end of what I was thinking it would be. I guess, because of his relatively high profile, there's a hefty "deterrence" element built in. I assume there were no previous or danger to the public considerations but he did - rather stupidly - plead not guilty. Still, I'd be surprised if there was no appeal against sentence. It will be interesting to learn whether there is a asset seizure order also.
Take-over delayed further, he was one of Methven's potential investors.
A spokesman for CM released a statement...... Mr Nick Leeson said "despite rumours we are not expecting Rufus's absence to cause a problem with funding"
Bloody hell, that’s a hefty sentence. Horrible story all round
I doubt the people who’s lives he ruined are saying that.
Loved him when he played for us but that was a long time ago, now he is just a scumbag scammer and I hope he suffers enough inside to make him change his ways
White collar crime, first time offender with no previous convictions, will most likely be in an open prison by the end of the year. Won’t be banged up for that long is my guess, two to three years max.
7.5 years is a lot for fraud The not guilty plea won't have helped Can expect an appeal against the sentence "...first offense etc etc" Wonder how much comfort his faith will be to him as he gets acquainted to life on a wing with wrongdoers, genuinely nasty felons and a few 'enthusiastic' screws?
White collar crime, first time offender with no previous convictions, will most likely be in an open prison by the end of the year. Won’t be banged up for that long is my guess, two to three years max.
"He will have to serve half of his sentence before being released on licence"
A really sad story and is Rufus in denial ? Richard should've just been a humble priest after Football and realized that less is more.
It sounded like a common Ponzi scheme along the lines of Bernie Madoff who managed to last for two decades and purloined billions of dollars, which involves borrowing/taking from Peter to pay Paul.
Though in the Richard Rufus case it's more like Borrowing/taking from Paul to pay Peter! Harsh lesson in finance for Paul Elliott that a CB (Rufus) with a limited education may not be the best person to trust with your money, despite the early signs of success.
The Lord giveth and the Lord taketh away. Amen from an Agnostic/atheist.
Comments
I also echo a pp regarding the name of his Company. Monopoly Trading??? Wtf ?? He either is a'sandwhich short of a picnic or he really was bent.
Out of interest, I noticed his FSA number. I don't know how these were allocated & part of me assumes they were sequential to when you were registered. As it happens mine ends ...00012. As I say, I've been doing this job a while 🙂
Tragic story for all of us who loved him as a footballer, which I most certainly did, no retrospective alteration on that from me.
The victims of Rufus are now the ones who deserve our compassion and attention.
I guess, because of his relatively high profile, there's a hefty "deterrence" element built in. I assume there were no previous or danger to the public considerations but he did - rather stupidly - plead not guilty.
Still, I'd be surprised if there was no appeal against sentence. It will be interesting to learn whether there is a asset seizure order also.
Mr Nick Leeson said "despite rumours we are not expecting Rufus's absence to cause a problem with funding"
Loved him when he played for us but that was a long time ago, now he is just a scumbag scammer and I hope he suffers enough inside to make him change his ways
Won’t be banged up for that long is my guess, two to three years max.
The not guilty plea won't have helped
Can expect an appeal against the sentence "...first offense etc etc"
Wonder how much comfort his faith will be to him as he gets acquainted to life on a wing with wrongdoers, genuinely nasty felons and a few 'enthusiastic' screws?
Rufus would be very close to making my all time favourite Charlton team.
And I've been going since 1966.
Very sad to see.
Richard should've just been a humble priest after Football and realized that less is more.
It sounded like a common Ponzi scheme along the lines of Bernie Madoff who managed to last for two decades and purloined billions of dollars, which involves borrowing/taking from Peter to pay Paul.
Though in the Richard Rufus case it's more like Borrowing/taking from Paul to pay Peter!
Harsh lesson in finance for Paul Elliott that a CB (Rufus) with a limited education may not be the best person to trust with your money, despite the early signs of success.
The Lord giveth and the Lord taketh away.
Amen from an Agnostic/atheist.
Here ends the sermon on the Soapbox.