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Pyramid conman Kevin Foster found guilty of theft and deception

Kevin Foster, of Doddington, found guilty of theft and deception in pyramid scheme
Kevin Foster, of Doddington, found guilty of theft and deception in pyramid scheme

A Kent fraudster who conned investors out of millions of pounds faces a lengthy jail term for theft and deception.

Kevin Foster, 51, of Seeds Road, Doddington, ran a Pyramid-style investment scheme which lured investors in with promises of great riches.

Now he has been found guilty of 14 counts of theft and deception at Harrow Crown Court.

Foster attracted £34 million of investment using roadshows at hotels and conference centres across the UK.

He drove potential investors into a frenzy by offering prize winners gifts such as cars or cash during on-stage promotions.

He promised high returns on a collection of gambling and network marketing


But there was no substance to his schemes - and he was only able to make payouts with money from new investors.

Meanwhile Foster himself enjoyed the type of elaborate lifestyle he promised to his investors, the court heard.

He owned a £600,000 farm in Kent which he fitted out with a swimming pool, hot tub, exotic animals and Koi carp breeding pools.

He also spent more than £700,000 on cars and withdrew almost £3 million in cash.

After a seven-week trial, a jury found him guilty of eight counts under the Financial Services and Markets Act 2000.

He was also found guilty of six counts of theft, relating to his use of funds

to buy various properties and cars, and service his own extensive debts.

The case has been adjourned to April 16 for pre-sentence and psychiatric

reports and Foster has been remanded in custody.

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