Ourexplains more about how we use your data, and your rights. As we are no longer trading, these amounts should not change.”Then came the December 3 email in which he admitted he had not traded in the currency market for five years.
On September 10, he said that he was “not able to give an exact date when we can send monies out” and blamed the problems on American regulators.On November 14, he sent another email which said: “We are going through a stressful time having our funds returned from our brokers; this has led to many doubts and concerns about the security of funds being held.”He admitted the business was being wound up but promised full refunds.He wrote: “So you can realise the extent of our business, our current values are: due to clients, $197,000,000 in 893 accounts worldwide. Wealthy investors, rumoured to include professional golfers and footballers, joined his scheme after being promised big returnsA businessman who persuaded investors to join a get-rich-quick scheme has disappeared along with £130 million of their cash, it was revealed today.Joe Lewis, 59, vanished after admitting to clients in an email that his company JL Trading had not done any business in five years and all their money had gone.Wealthy investors, rumoured to include professional golfers and footballers, joined his scheme after being promised big returns.But after briefly visiting relatives in Hull, East Yorkshire, he has now disappeared from his offices in Turkey.Police have begun an investigation and a civil action has been launched against him to freeze his accounts and seize any remaining assets he may have.In the email to clients on December 3, Lewis wrote: “Dear investor, I am writing to inform you that JL Trading is ceasing to carry on business.“Contrary to the impression I have hitherto given, the business has lost almost all of its assets and there appears no prospect of those assets being recouped.“JL Trading ceased foreign exchange trading in 2009 following substantial losses and since that time the business has suffered further losses which I have tried to make good through investments in a number of commercial projects.“However, it is now clear that the business will not be able to recover its losses and must cease trading.”He added: “I can only apologise unreservedly for any losses or unfulfilled expectations of profit.“I have tried to recover the position for a considerable period of time but it is now clear that I will be unable to do so. Sometimes they’ll include recommendations for other related newsletters or services we offer. "We have all put money in and he has run off with all our money and that is as much as we know. I am happy to share information with the legal entities.“Everything he had is ruined. We have never got any money back.”Another victim, Mark Bavin, introduced clients to the scheme and organised Lewis’ golf days. I am owed significant sums.”Clients began receiving emails from Lewis in September. You can unsubscribe at any time.Apartment: Lewis' home in Istanbul where he has not been seen for several weeks I have reported it to the fraud squad. Please note, I have covered up my mistakes from everyone including my staff, no-one else knew what was happening.”A doorman at Lewis’ apartment in Istanbul said he had not been seen at the property for several weeks.His son James said: “He doesn’t live extravagantly. There are no assets at all that I am aware of.”Cambridgeshire police have taken statements from several of the alleged victims and have launched an investigation.Vanished: Joe Lewis disappeared with £130m of investors' cashWhen you subscribe we will use the information you provide to send you these newsletters. However, he reported Lewis to the authorities after losing heavily himself.He said: “I am sure this is a massive fraud.
Two days later, in his final message, he changed his story and said the wording of the previous email had been drafted by his lawyers.He wrote: “You have been sent an update this week which was worded by my lawyers but I wanted everyone to know I am not running away from things.“Whilst I regret some of the things I have done, I will do my best to remedy this situation. This money was supposed to be savings for my children and grandchildren.“I have never met the bloke and I don’t think I have ever spoken to him.”Mr Wall said he began having suspicions in September last year and added: “I was asking could I draw some money out and they started giving me excuses why they couldn’t do it.”Mr Wall said that his daughter and son-in-law, who live abroad, had also made investments.British oil engineer Neil Rodrigues said he invested £26,000 in 2013 - four years after Lewis now admits he stopped trading.He said: “Most of my colleagues with spare cash invested in JL Trading.
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