Three men accused of tricking people into investing in a bogus forestry scheme have appeared in court.
Stephen Greenaway, 45, Paul Laver, 44, and Matthew Pickard, 52, all from Dorset, were directors of Ethical Forestry Ltd which collapsed in 2015.
It is alleged they ran a Ponzi scheme where existing investors were paid from new investors’ funds, Westminster magistrates heard.
The defendants were bailed to appear at Southwark Crown Court on 26 July.
All three are charged with two counts of conspiring to commit fraud by false representation and one count of running a business with intent to defraud.
The Serious Fraud Office, prosecuting the case, claim the men conspired for seven years to offer returns on harvested timber in Costa Rica.
Mr Greenaway, from Parkstone, Mr Laver, of West Parley, and Mr Pickard, from Lytchett Matravers, were remanded on unconditional bail.
Source : BBC