The sister of Victoria Beckham says that her ex-husband is a "great father". is, while he is in jail in front of the prison
Darren Flood, 39, (pictured outside Kingston Crown Court today) faces the jail for using his links to David Beckham to invest £ 800,000 in investors
Victoria Beckham's sister described her ex-husband as a "great father" because he has up to six years in prison for taking away £ 800,000 from investors.
Darren Flood, 39, used his links to the football player David Beckham for a scam in the boiler room, causing retirees to be misled into worthless & # 39; to make investments.
In a character statement read at the Kingston Crown Court in southwest London, Louise Adams said that Flood undertakes many of the practical activities of the daily life of his eight-year-old daughter.
Joanna Hardy, who defends Mr. Flood, told the court: "Mr. Flood got the accident of love to blame for his bond with the Beckham family."
Mrs. Hardy, reading from the statement, also said: "I do not intend to read everything, but your honor will notice that she writes with great support from her former husband and father who he is.
& # 39; She indicates that the little girl spends her time with the life of 50:50.
& # 39; She describes Mr. Flood as a great father. She describes him as undertaking many of the hand-on activities of the girl's daily life.
She understands understandably enough if a mother will have the concerns that she has about the impact of Mr. Flood's confinement at her age. & # 39;
She added: "The personal softening of Mr. Flood is this, he is a father of an eight-year-old girl.
She spends half of the week with her mother and spends half of her week with her father.
"He takes her to school, he takes her to her activities, he is an active and devoted father in all accounts. & # 39;
Ex-wife Louise Adams, pictured together, described him as a "great father & # 39; in a statement that is being read to the court today
Flood was a director of The Commodities Link, which focused on high net worth clients & # 39; and discussed potential goals, including the father of former footballer of Chelsea footballing Joe Cole.
The staff made great play that Darren Flood was David Beckham's brother-in-law to win investor confidence, heard Kingston Crown Court.
More than 12 victims were encouraged to purchase "rare earth" substances, such as precious metals, which are mainly used to make technological products, with the promise of big profits.
Stephen Shay, who continued, said that between April 2012 and August 2014 they invested more than £ 800,000 – but the materials had no resale value.
He explained: "This case concerns the fraudulent miss sale of rare earths, that is, rare earths and / or rare earth oxides through the company called The Commodities Link (TCL).
& # 39; The case of the Crown is that TCL is a typical & # 39; boiler room & # 39; was set up with the aim of inducing unsuspecting citizens to invest in rare earths.
TCL made representations about the suitability of rare earths as an investment by telephone and in brochures.
& # 39; These representations were false. They concentrated on historical publicity from 2010-2011, with the result that the main supplier of rare earths, China, limited global exports and caused a price increase.
& # 39; TCL sold investors & # 39; baskets of rare earth that consisted of a selection of different rare earth metals, usually with a weight of one or two kilos in one case 150kg. The view that oxides could be resold in this format was incorrect.
& # 39; There is no resale market for rare earths in this size or quantity. & # 39;
Ms. Hardy argued that Flood never capitalized & # 39; was on the link to the Beckham family.
She added: "Mr. Flood attributed the accident with love to the Beckham family, and those left attracted public attention.
He fell in love with a lady who happened to be the sister of a famous pop star.
& # 39; It is understandable that that link has attracted attention. But there is no trace of evidence that Mr. Flood ever capitalized on that link.
& # 39; The only case that he mentioned his relationship with the Beckham family was when he asked employees to sign a Non-Disclosure Agreement – he did not want to promote that link.
The so-called conman (pictured today in court) encouraged victims to buy "rare earth" substances, which are mainly used to make technological products, with the promise of big profits
& # 39; There is no evidence that Mr. Flood has ever spoken to a single victim. & # 39;
Flood compiled two Coutts bank accounts for the company that used its business connections, the court heard.
He was director for TCL, while Gennaro Fiorentino, 38, was described as the principle and Jonathan Docker, 32, was a sales manager.
Flood was instructed to target potential, wealthy investors who paid up to 200 times the chance of baskets of materials.
Shay said that business traveler Paul Muldoon (34) used the false name Paul Roberts for thousands of thousands of victims.
Paul Roberts emphasizes his experience and that of other brokers, even though the company, TCL, has just been founded.
"He, Paul Roberts, has played fantastically that Darren Flood was the brother-in-law of David Beckham, which in my opinion was the case at some point." & # 39;
An investor, Peter John Harris, told the trial that he was cold – named by a man named Paul Roberts who proclaimed the Becks link.
Harris, who lost £ 100,000 in the scheme, said that the seller used his family relationship with Beckham to trust him & # 39; in the company.
Another victim, Mavis Wright, was dined and dined by Muldoon, who convinced her to spend £ 41,000 with the name Paul Roberts.
& # 39; I had no idea that this was a scam, & # 39; she said.
Referring to the false investments, Mr. Shay added: "Manufacturers buy from the ton directly from suppliers. They would never want to buy a few kilograms from a private individual. & # 39;
Victims of the company paid & # 39; between seven and 200 times & # 39 ;, said Mr. Shay.
Flood was a director of the company between June 2012 and April 2013 – but documents discovered by investigators revealed tensions with colleagues, Mr. Shay said.
Employees at Flood's firm & # 39; made a big impression on their boss as brother-in-law of David Beckham & # 39; To win the trust of investors, Kingston heard Crown Court
A title titled TCL requirements & # 39 ;, which was read out for the jury, said: & # 39; Jonny and Darren should talk to wealthy clients, people, potential customers that you know.
& # 39; Since June, we've been talking about Joe Cole's father. & # 39;
A document written for Docker declared the output is terrible & # 39; from the company and said: & # 39; The politics between you and Darren must be sorted.
& # 39; The company is on the knees where leads are sent. That is ridiculous. & # 39;
Shay said: & # 39; That document seems to indicate that Darren Flood and Jonny Docker did not do well while TCL was in operation. & # 39;
The document went on: "Darren did not perform at any other level than to charge money to the company and to extract expenses.
& # 39; He got a bank account, but this could have been on the street with every bank.
& Darren threatens to leave and close the bank accounts. This is a very common threat and makes the company's progress very difficult. & # 39;
Miss Hardy said in mitigation that he was only responsible for £ 195,000 of the fraud while he was director from June 2012 until he resigned in April 2013.
She said: & # 39; At the beginning of this address it is appropriate that I explain to Mr. Flood, his guilt or innocence, it is always appreciated by him that real people lost real money at crucial moments in their lives.
& # 39; This defendant must really bear the date of full directorship, but your honor will know that there was a wind in February 2013.
"Your honor will be Mr. Flood's role within those £ 195,000 in transactions and within that nine-and-a-half-month directorship."
Miss Hardy also claimed that Flood had retained only £ 2,000 of the £ 26,000 he received in the scam.
His mother had spent money on Commodities Link and his lawyer added: "What Mr. Flood kept of those efforts, the total was not much more than £ 2,000.
& # 39; He had legitimate business interests at the time and was financially comfortable. & # 39;
Miss Hardy argued that his crimes had to be reclassified so that he was in jail between six months and three years.
Muldoon acknowledged fraud by false representation during a previous hearing.
Flood, Docker, Fiorentino, along with Mark Whitehead, 59, and Vikki King, 39, were convicted by a jury of fraud by false representation.
Stephen Todd, 37, admitted fraud by false representation.
Alexander dos Santos, defender Stephen Todd, said: "At age 16 he started in the city and started in the investment world.
He then had the opportunity to work in Tokyo and Hong Kong. & # 39;
He worked for a company that later became part of JP Morgan Chase.
At the age of 25 he formed a company with an experienced lawyer, but this became a criminal enterprise.
"He ended in a downward spiral and with an addiction to a certain kind of lifestyle that is all too common."
As far as Todd's involvement in TCL is concerned, the barrister explained: "He was not someone at first, he was not someone at the end, he was not a director at any time, he was not crucial to his career. could continue with or without him. & # 39;
He said that Todd was someone who started in the toxic world of stock brokerage and descended to the point where he had to live somewhere. & # 39;
Judge Michael Carroll will punish the gang tomorrow.