An Extravagant Life Funded by a Scam ; Ppp Director Used Clients' Cash for Fun

The JournalApril 01, 2009

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Summary


ACORRUPT company director funded an extravagant life by using investors' cash, a court heard.

John Potts was one of five directors at North East-based Practical Property Portfolios who duped clients out of millions of pounds through its buy-to-let property scheme.

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An Extravagant Life Funded by a Scam ; Ppp Director Used Clients' Cash for Fun

Potts, said to have ruled the now defunct business by a combination of "bullying and generosity", was the greatest beneficiary of the scam, Newcastle Crown Court was told.

His indulgent spending in...

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