Alleged conman “takes in” former England Manager, spy chief and North Korean Government !
Even by the “normal” standards of fraud, this case is quite extraordinary and shows that when a person gains the confidence of perhaps a few successful people, others often follow, assuming that if “x” is willing to do do business with the fraudster, then they can also have confidence in his or her credentials and bona fides. Do so at your peril … !
In this case, the alleged fraudster, Russell King managed to convince former England manager Sven-Goran Eriksson, former spy chief Sir John Walker and, believe it or not, the North Korean government that he was managing billions of dollars for the Bahraini royal family.
The above occurred despite the fact that King had “previous”, having previously gone to prison for insurance fraud in 1991. It seems that little or no checks or due diligence took place and King got as far as allegedly inducing Eriksson to become involved in Notts County football club and in visiting North Korea as a kind of ambassador for a legitimate company which King appears to have been in control of, although he claims he was only ever a consultant to that company, which has now gone bust.
The case has been referred to the Serious Fraud Office and clearly demonstrates the value of a modicum of due diligence !
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