By Suzi Ring (Bloomberg) — A conman posing as a millionaire London dealer who defrauded a Dutch transport firm of 100 million euros ($113 million) was sentenced to 14 years in jail by a U.Ok. courtroom.

Portuguese nationwide Luis Nobre persuaded Allseas SA, which was attempting to lift capital, to switch the 100 million euros into his management, the Metropolitan Police mentioned in a press release Tuesday. The Wembley resident, who introduced himself a financier with entry to billions from connections to the Vatican and Spanish aristocracy, was discovered responsible of the 2011 fraud at a London courtroom on Friday.

The 49-year-old was taken into custody at London’s Heathrow Airport in December 2011. At the time of his arrest police discovered pretend paperwork regarding plenty of financial institution accounts that purported to carry billions of {dollars}. He was launched on bail earlier than being re-arrested on May 2012. He spent tens of millions on a lavish way of life that included five-star accommodations, non-public safety, concierge providers, clothes and hairdressing, the police mentioned. Police recovered 88 million euros, which was returned to Allseas.

A lady was additionally discovered responsible in reference to the fraud and shall be sentenced subsequent month. A 3rd defendant died earlier than the trial began.

The case is just like that of a 25-year-old man from London who cheated traders out of 5.6 million kilos in a currency-trading scheme, spending the cash at casinos and nightclubs. Alex Hope, who was jailed for seven years in 2015, used traders’ cash “as his own personal piggy bank,” the Financial Conduct Authority, which prosecuted the case, mentioned on the time.

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