A trial in London has heard how a City trader scammed Dutch shipping firm for EUR100m ($111.3m).
Luis Nobre, 49, pretended to be a well-connected international financier, persuading Allseas that it could gain EUR1.2bn ($1.34bn) within three years if the shipping line invested EUR100m in a far fetched financial scheme with links to the Vatican and Spanish nobility, jurors were told at a court in London.
Nobre is alleged to be a member of a gang of conmen led by Marek Rejniak, who is on the run. He claims he is innocent.
The scam was halted by Barclay’s Bank which noticed a series of questionable money transfers.
The trial, which is expected to last for up to two months, continues.
