Ex-police officer Michael Stanley admits to defrauding Layezy Racing syndicate members in a £10m Ponzi scheme from 2013-2019.
Ex-police officer Michael Stanley admits defrauding members of horse racing betting syndicate Layezy Racing, running a fraudulent Ponzi scheme between 2013 and 2019. Around £44m was paid into the scheme, with £34m paid back out, leaving a £10m shortfall. Stanley, who used to be a sergeant with Kent Police, pleaded guilty to five charges including dishonestly making false representations to members of the syndicate.
March 07, 2024
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