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Self-styled 'lord' found guilty of £400,000 cruise voucher Ponzi scam

News
Ilaria Grasso Macola
20 December 2024

A self-styled "Lord", who sold hundreds of unsuspecting customers more than £400,000 worth of fake "cruise miles" in a Ponzi-style scheme, has been found guilty of fraud – more than 10 years after his offending started.

card_payment_keyboard_money_scam_fraud_iStock-1175077095 (Credit: iStock / damircudic)

Travel purchases are outstripping most other sectors (Credit: iStock / damircudic)

Scammer Richard Lester invited customers to buy cruise miles via his Cruisevoucher website at discounted rates, which they could then exchange for cruises, but then did not go on to book their holidays.

Customers would buy their cruise vouchers up to three years in advance, but Lester instead used their money to pay for earlier customers’ cruises.

He even managed to recruit some of his victims as agents to perpetuate the scheme, tasking them with selling more and more miles to potential customers in return for commission that never materialised.