Ex-UK policeman gets prison for $44million horse betting Ponzi scheme

A former British police sergeant who operated a horse-betting syndicate known as a "Ponzi scheme" and defrauded thousands of people out of millions of pounds was given a six-year prison term.

Of this, the former crimefighter for Kent Police kept £4 million for himself. He lavished this money on a property in Spain valued at £400K, Land Rover vehicles exceeding £600K, and 23 race horses. In addition, he bought £1.6 million in cryptocurrency and £622,00 worth of silver bullion.
 
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