The father of the fiancee of the world’s second most expensive player, Gareth Bale, has received a six year jail sentence for fraud.
Martin Rhys-Jones, who is father to the Real Madrid star’s sweetheart Emma, was handed his sentence by US District Judge Elizabeth Wolford Monday.
Rhys-Jones was picked up and hauled before court after he and his cronies sold worthless stock options to unsuspecting victims, including one involving an unsuspecting British senior with Alzheimer’s, who was conned out of upwards of £300,000.
“Rhys-Jones had pleaded guilty to one count of money laundering over the scam in which he and his associates sold worthless stocks at grossly inflated prices for three years.” MailOnline writes.
“Salesmen working for Rhys-Jones in Barcelona used high pressure tactics to tell customers they were buying regular shares – but they were actually restricted and worth practically nothing.
“Assistant US attorney Russell Ippolito said that Rhys-Jones was ‘knee deep’ in the scam and that he had personally phoned investors to con them.”
In her sentencing, Justice Wolford said Rhys-Jones conduct was fraudulent, plain and simple.
“This was fraud plain and simple.” Wolford wrote.
“This wasn’t a market gone bad, this wasn’t an economic downturn, this was fraudulent conduct that in my opinion was motivated by greed and self interest and didn’t take into account the people you were harming in the process.”
Having spent the better part of four years in jail throughout his trial, the 52 year old would be eligible for parole in a year’s time.
Wolford has also ordered for him to pay back $2,897,130 to his numerous victims, and for his immediate deportation to the UK upon release.