A fraudster who falsely claimed a close friendship with NBA icon Michael Jordan has been jailed after swindling victims out of £1.4 million in an elaborate Ponzi scheme.
Simon Farid, 44, convinced investors he had exclusive access to lucrative deals through his supposed connections with the basketball superstar. Prosecutors revealed Farid fabricated emails and documents to support his claims, even forging Jordan's signature.
The elaborate deception
Farid's scheme unravelled when investors became suspicious about missing payments. Investigations showed he had:
- Created fake email chains with Michael Jordan
- Forged contracts bearing Jordan's signature
- Used investors' money to fund a lavish lifestyle
The Southwark Crown Court heard how Farid spent the stolen funds on luxury cars, designer clothes and expensive holidays while victims lost their life savings.
Justice served
Judge David Tomlinson sentenced Farid to five years in prison, stating: "This was a calculated and persistent fraud that caused significant harm to your victims."
The court was told Farid had previous convictions for similar offences, demonstrating a pattern of dishonest behaviour. Financial investigators are now working to recover what they can for the defrauded investors.
This case serves as a stark warning about the dangers of investment opportunities that seem too good to be true, particularly when they involve unverified claims of celebrity connections.
