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Devon Man Convicted Over UK Ponzi Scheme That Promised 350% Returns
A Devon man who promised eye-watering daily returns through an online investment scheme has been found guilty of fraud after conning hundreds of investors out of more than £1.3 million. Daniel Pugh, 35, used social media adverts—primarily on Facebook—to promote his so-called Imperial Investment Fund (IIF), which promised returns of 1.4% a day, 7% a week, or a staggering 350% a year. The fund, which operated between March 2019 and August 2020, turned out to be a classic Ponzi scheme, with early participants paid from the deposits of new investors. In total, 238 people fell victim to the scheme, according to the ... (full story)
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- Aug 7, 2025 10:40pm Posted byEntertainment211.2K
