By PAUL O’DONOGHUE, Senior Correspondent
THE City of London Police has secured an Interpol Silver Notice to help trace assets belonging to Anthony Constantinou, a convicted fraudster.
He ran a £70 million ($95 million) Ponzi-style investment scheme.
“This is a significant step in the international effort to identify and confiscate assets derived from his criminal activity,” the City of London Police said in a statement.
A court sentenced Constantinou in June 2023 to 14 years in prison for fraud by false representation, fraudulent trading and money laundering. It also ordered him to repay £64 million or serve another 14 years.
Police said he absconded during his trial and remains at large. An existing Interpol Red Notice asks member nations to locate and arrest him so he can return to the UK.
The Silver Notice lets countries share intelligence on criminal assets across borders. The City of London Police requested it after receiving intelligence that Constantinou holds property in several foreign jurisdictions. Their goal is to trace and confiscate these assets to compensate victims.
“[The notice] will allow law enforcement agencies to work collaboratively in identifying and recovering proceeds of crime held abroad,” police said.
Anthony Constantinou conviction
Constantinou ran Capital World Markets between late 2013 and early 2015. The firm promised investors monthly returns of about 5% on what it described as risk-free foreign exchange trades. Minimum investments ranged from £50,000 to £100,000.
By March 2015, investors had put in about £70 million. Investigators later found the trades never took place. Constantinou used money from new investors to pay earlier ones and spent the rest.
Deputy Commissioner Nik Adams of the City of London Police said: “This is a significant step forward to compensating the many victims of Constantinou.
“We recognise the profound impact this has had on those involved. And we are actively working to ensure they receive the compensation they deserve.
“We will now work to recover potential assets held abroad and apply to confiscate them.”
Members of the public with information regarding Anthony Constantinou’s assets or current whereabouts are encouraged to report this via the Major Incident Public Portal.
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