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The High Court in Edinburgh found him guilty of “committing a fraud on an enormous scale” in which he raided investors’ pension pots and life savings to fund his own personal investments.

Mr Greig ran a Ponzi scheme, in which new investors' funds were used to pay existing investors, by claiming he put their cash in guaranteed high-interest accounts which never existed. He then used this money to fund his own personal investments.

imogen.tew@ft.com

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