‘Arboretum Sports’ fraudster sentenced to additional two years
6 Medi, 2017 | Eitemau newyddion
David Gerald Dixon, the creator of a Ponzi scheme that inflicted millions of pounds worth of losses on investors, had his default prison sentence of two years activated by the court today for failure to pay a £275,000 confiscation order.
David Dixon, 51, formerly of Basingstoke, has failed to pay any of the £275,000 confiscation order originally imposed on him at Southwark Crown Court on 11 November 2016. He pleaded guilty in March 2015 to five fraud related offences following a joint investigation by the Serious Fraud Office and Hampshire Police and was subsequently sentenced to three years and 10 months’ for the crime in April 2015.
Westminster Magistrates’ Court activated the default two year sentence today and David Dixon will still remain liable for the full amount of £275,000 arising from the confiscation order, once this sentence is served.
David Dixon created the scheme through Arboretum Sports (UK) Limited and Arboretum Sports (USA) Incorporated. Through those companies, collectively referred to as ‘Arboretum Sports’, victims were induced into placing money into what they were told was a no-risk gambling syndicate with the potential for dramatic rates of return. In reality, the scheme was a dishonest vehicle for Dixon to appropriate the funds of its members. Arboretum Sports (UK) Ltd went into liquidation in 2007, and shortly thereafter Dixon fled to Malaysia. He was arrested by the Royal Malaysian Police in September 2014 and extradited to the UK.