A conman was jailed for eight years in the UK Monday for defrauding Dutch offshore engineering firm Allseas out of £88m ($117.5m).
Paul Sultana, a former car salesman, was part of a team of fraudsters who persuaded top management to invest in a fictitious Vatican-linked investment platform with massive four-digit rates of return.
Allseas has been pursuing the conmen for a number of years, with another of the fraudsters jailed two years ago.
Edward Heerema, president of Allseas Group, said: “We felt it was in the public interest for us to pursue the case against Mr Sultana to protect other potential victims by ensuring that he is not free to repeat his crime.
“Today’s conviction vindicates our decision to pursue this case, and sends a strong message to fraudsters that there are effective routes for justice to be served.”
