[2011] EWCA Crim 1192

Where a large group had invested in an unauthorised collective investment pyramid scheme, evidence from four investors that they had understood that the invested funds were only to be used in a particular limited way could not be taken as representative of the whole group. Consequently it could not be established that the operator's use of part of the invested funds for personal benefit constituted an appropriation of another's property for the purposes of the Theft Act 1968.

CA (Crim Div) (Elias LJ, Mackay J, Hickinbottom J)

29/03/2011