A luxury jewellery boss accused of orchestrating a £170 million scam allegedly instructed his shop staff to pose as customers in a bid to inflate sales and mislead business partners, a UK court has heard.
Prosecutors claimed the businessman used the elaborate scheme to create the appearance of a thriving operation, deceiving investors and financial institutions. Employees were reportedly ordered to buy jewellery items themselves, only to return them later, disguising the transactions as genuine sales.
The alleged fraud is said to have spanned several years, involving high-end jewellery stores and a network of false paperwork to cover up the trail.
Investigators argue that the elaborate ruse not only misrepresented the company’s financial strength but also lured unsuspecting investors into a multimillion-pound trap.
The accused has denied all charges, insisting that the business was legitimate. The trial continues.