Two British bankers jailed over $3m investment scam
Published on Jun 9, 2014 6:43 PM
Two British bankers,Timothy Nicholas Goldring (left) and John Andrew Nordman were jailed for a total of 15 years on Monday, June 09, 2014, over a bonds scam in which investors lost more than $3 million. -- ST PHOTO: WONG KWAI CHOW
By Ian Poh
SINGAPORE - Two British bankers were jailed for a total of 15 years on Monday over a bonds scam in which investors lost more than $3 million.
Timothy Nicholas Goldring, 60, and John Andrew Nordman, 55, were convicted on 18 proceeded charges of cheating - involving $915,000 worth of investments - after a 64-day joint trial.
They were sentenced to seven and eight years' jail respectively. Both men plan to appeal.
Investors lost some $3.1 million in the Boron bonds scheme between November 2008 and August 2010. The two directors of land banking firm Profitable Plots promised 12.5 per cent in returns within six months.
Get the full story from The Straits Times.
