British forex executive found guilty of £50 million Ponzi scheme fraud.

A British forex firm executive who stole investors' money to maintain a lavish lifestyle was found guilty in a London court of his part in a £50 million Ponzi scam.

City of London Police stated in a statement that Anthony Constantinou was found guilty on Monday of one offence of fraud by false representation, two charges of fraudulent trade, and four counts of transferring criminal property.

The trial at London's Southwark Crown Court resumed in his absence after the 41-year-old jumped bail in April after pleading not guilty to all counts.

Capital World Markets (CWM) was run by Constantinou, and it provided a 5% monthly return on investment. The prosecution told the court that CMW's high-end City of London offices and prominent sports sponsorship arrangements, particularly with Premier League football club Chelsea, enticed investors.

However, the scam fell apart in March 2015 when CWM was raided by authorities, according to prosecutors during Constantinou's trial.

Investigators learned he used CWM funds to rent a six-bedroom property, pay for private planes, and throw expensive parties, including a £2.5 million wedding on the Greek island of Santorini.

Mr Anthony Constantinou was recently caught in Bulgaria using forged identification credentials, but he was later released and is still at large, according to court documents.

On the 9th of June, Judge Gregory Perrins stated he would sentence Constantinou in his absence from the courtroom.

(investing.com, reuters.com, skynews.com)