Pirate FM News

Keep up to date with the latest news delivered direct to your Inbox.

Charges Over Currency Exchange Collapse

news_money_euros.jpg
Delicious Submit this page to reddit

7:01am 16th August 2013

Seven people have been charged after a Cornish holiday money company collapsed - owing £20m.

Thirteen thousand people lost their money when Crown Currency Exchange in Hayle went under.

Five people from Penzance are among those who were charged when they answered bail at Launceston police station.

It follows a police investigation that has lasted almost three years.

Customers lost sums up to £100,000 pounds each - a lot of them in the Duchy.

Those charged are:

  • Peter Benstead aged 70 from Penzance charged with offences of fraudulent trading, money laundering, perverting the course of justice, theft, deception and false accounting companies act offences.
  • Edward James aged 73 years from Glastonbury charged with fraudulent trading, false accounting and companies act offences.
  • Julian Benstead aged 44 years from Penzance charged with fraudulent trading and theft.
  • Katey Calvimonte aged 35 years from Penzance charged with deception, and perverting the course of justice.
  • Roderick Schmidt aged 44 years from Penzance charged with fraudulent accounting, perverting the course of justice, theft, false accounting and companies act offences.
  • Victoria Obrien aged 37 years from Welwyn, Hertfordshire charged with perverting the course of justice.
  • Stephen Matthews aged 50 years from Penzance charged with fraudulent trading, theft, false accounting and companies act offences.

Police say some of the charges relate to parent company Crown Holdings Ltd and to Mayfair and Gold, a cash-for-gold company.

Crown Currency was set up to allow people to order their money up to a year in advance at a set price.

But, because it was not covered by the Financial Services Authority, customers lost their money.

It employed around forty people at its headquarters in Hayle's Foundry Square.

All seven of the accused men and women will appear at Westminster Magistrates on 17th September.

7:01am 16th August 2013

Share This Story

Delicious Submit this page to reddit
Suggested articles
parking

Car Parking Charges Frozen In Cornwall

Council-run car parks are staying at the same price

Most read
whiterock road wadebridge

Woman Dies In House Fire

'Brave' neighbour attempted to rescue her in Wadebridge

starlings 2

WATCH: The Weird Moment Thousands Of Birds Descend On A Cornish Village

It looks like something out of a horror film - but locals were horrified by the mess it left...

Top articles

Cornwall Man Accused Of Child Murder

Cornwall News: Matthew Scully-Hicks denies killing adoptive daughter

Pirate FM Cornwall News Update - 7th January 2016

Cornwall Video News: Officials say they’re holding talks to find new jobs for hundreds of workers in Bodmin.

David Miliband: Labour at its weakest for 50 years under Corbyn

National News: David Miliband has thrown himself into Labour's by-election infighting by declaring the party is at its weakest for 50 years, while also refusing to rule out a comeback.

VIDEO: Cats Die From 'Anti-Freeze Poisoning'

Cornwall News: Vets warn others are missing in Camborne and Redruth

Foo Fighters to headline at Glastonbury 2017

Showbiz News: The Foo Fighters have been announced as headliners for Glastonbury Festival 2017.

French prosecutors launch judicial inquiry into Francois Fillon 'fake jobs' claims

World News: French prosecutors have opened a judicial inquiry into claims Francois Fillon gave his wife a "fake job".

Rory McIlroy says game of golf with Donald Trump not 'an endorsement'

Sports News: Rory McIlroy has defended his decision to play golf with Donald Trump after a flood of criticism and abuse, saying it "was, quite simply, a round of golf".

Men and women 'need different things' to keep friendships alive

Strange News: Your ability to keep long-distance friendships alive may depend on your gender, according to a new study.

Newer article

Big Search Operation For Missing Man

Cornwall News: Dell Wilton disappeared from his home in Illogan on Thursday morning

Older article

Cornish Families Urged To Test Smoke Alarms More Regularly

Cornwall News: Two people saved from a house fire in Falmouth after their neighbours heard their detector going off

Cornwall's Pirate FMPirate Extra Footer LogoEscape to Cornwall radioLoveCornwall.com - The Cornish Business DirectoryPirate Education and Training

 

© Copyright Pirate FM

Pirate FM cannot be held responsible for the content of external links.