Three charged with fraud and money laundering offences over Spalding Lottery Syndicate Club trading scheme
Three men have been charged with offences including fraud and money laundering over a trade based investment scheme run by the Spalding-based Lottery Syndicate Club.
The scheme operated between 2017 and 2019 and had hundreds of members - with reports made of suspected fraud.
An investigation run by the police's economic crime unit (ECU) has now led to three arrests.
The men arrested are:
- Christopher Toynton, aged 72, of Horseshoe Road, Spalding has been charged with fraud by abuse of position, money laundering and carrying out regulated activities
- Ross Gibson, aged 26, of Eve Lane, Dudley (previously from Spalding) has been charged with fraud by false representation, money laundering and carrying out regulated activities
- Philip Cavener, aged 60, of Douglas Road, Bedford, is charged with carrying out regulated activities.
They will appear at Lincoln Magistrates’ Court on December 9.
Investigating officer PC Phil Gidlow from the ECU said: “This has been a very complex investigation and we would like to thank everyone who has so far come forward to provide information.
"We continue to appeal to anyone else who may have been affected but has not yet come forward, to please contact the investigation team by email on firstname.lastname@example.org.”