Saturday 17 August 2019

Former Premier League star quits coaching role after allegations of involvement in £16m investment fraud

Former Charlton defender Richard Rufus
Former Charlton defender Richard Rufus

Richard Rufus has resigned from his posts at Charlton after being found to have overseen a multi-million pound fraud.

The retired defender, who spent his entire professional career with Charlton between 1993 and 2004, had been working as an academy coach and an ambassador for the community trust at the south London club.

However, Press Association Sport understands he has now quit after he was branded a fraudster by specialist civil court judge Clive Jones at the High Court in London earlier this month.

Bankruptcy registrar Jones said Mr Rufus had accepted more than £16m from investors between 2007 and 2011 - without authorisation and in breach of financial regulations.

He had lost more than £5m through currency exchange trading and used more than £3m for his ''own purposes''.

He had also given money which came from the pockets of some investors to other investors and pretended that money was profit.

Registrar Jones said Mr Rufus had misused money given to him by officials at two London churches he had links with.

He said Mr Rufus had ''exploited trust and friendship'' and what he had done was ''in substance a fraud''.

Press Association Sport understands Charlton will announce his departure later this week.

The Financial Conduct Authority (FCA), which has the power to prosecute in such cases, refused to comment on Rufus' case earlier this month.

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