London Daily

Focus on the big picture.
Sunday, Apr 20, 2025

Former Spalding United football club chairman convicted of £4m fraud

Former Spalding United football club chairman convicted of £4m fraud

A former football club chairman has been found guilty of fraud in a £3.9m spread betting "Ponzi" scheme.

Christopher Toynton, 73, was convicted following a two-month trial at Lincoln Crown Court.

The court heard investors lost money on the scheme, which was named the Lottery Syndicate Club.

Toynton, the ex-chairman of Spalding United, will be sentenced later alongside accountant Ross Gibson who pleaded guilty to three charges.

The court heard police began an investigation after an account belonging to Spalding-based Gibson was frozen by his bank.

Prosecutor Julian Jones likened the Lottery Syndicate Club to a Ponzi or Pyramid scheme where investors were paid out from new members joining the syndicate.

Mr Jones said Toynton spent £134,000 of the £3.9m fund on himself, buying two cars valued at £54,000 and sharing a box at Luton Town.

He alleged Toynton also told potential investors that the scheme was safe and low risk.

Toynton was the former chairman of Spalding United


During his police interviews he denied acting dishonestly, and said he believed everything Gibson was telling him.

He likened the trading scheme to a punt which overwhelmed him after becoming wildly successful, and said he carried out administration as there was no one else to do it.

Toynton, of Horseshoe Road, Spalding, was found guilty of four charges of fraud by false representation, and five charges of fraud by abuse of position.

The jury was directed to clear him of a regulatory offence after the trial judge ruled there was insufficient evidence to conclude that he was acting as an agent or offering financial advice.

He also was cleared of one charge of fraud by false representation.

Gibson, 27, of Eve Lane, Upper Gornal, Dudley, pleaded guilty at a previous hearing.

The offences occurred between November 2017 and March 2019.

Judge Catarina Sjolin Knight adjourned the case for both men to be sentenced together.

Newsletter

Related Articles

0:00
0:00
Close
This is Vienna, Austria in 2025.
Boeing Jet Returns to US from China Amid Tariff War
Canadian Federal Election: Candidates' Positions on US-Canada Relations and Donald Trump
Resentencing Hearing for Menendez Brothers Who Killed Their Parents Delayed Amid Legal Disputes
Australian Woman Gives Birth To Stranger's Baby In IVF Mix-up
US Sets Deadline for Russia-Ukraine Peace Deal Brokerage
Italy Introduces 'Sex Rooms' in Prisons for Inmates
California Launches Legal Challenge Against Trump Administration's Tariffs
"Groundless": China Dismisses Zelensky's Claims It's Supplying Arms To Russia
UK Psytrance Festival Cancelled Amid Local Protests Over Noise Concerns
French Far-Right Writer Renaud Camus Denied Entry to UK
UK Police Force Updates Search Policy for Trans Individuals in Custody
Italian Prime Minister Giorgia Meloni Meets with Donald Trump to Discuss EU-US Trade Tensions
Canada's Federal Party Leaders Engage in Final Debate Ahead of General Election
Ukraine and US Sign Outline of Minerals Deal
Fast Food Chain Refuses to Apologize for Online Comment About Katy Perry's Space Voyage
New York Attorney General Letitia James Faces Criminal Referral for Alleged Mortgage Fraud
Mark Cuban admits support for Trump executive order: ‘Gotta be honest’
US Senator Meets with Deported Immigrant in El Salvador Amid Custody Dispute
U.S. State Department Raises El Salvador’s Safety Ranking, Making It Safer Than France and Other European Nations
UK Government Assumes Control of British Steel's Scunthorpe Plant Amid Shutdown Threat
UK MP Wera Hobhouse Denied Entry to Hong Kong During Family Visit
Bangladesh Issues Arrest Warrant for UK MP Tulip Siddiq
China Urges United States to Cancel Tariffs Amid Escalating Trade Tensions
The Empire’s USD Pyramid Scheme Is Working Brilliantly—So Why ‘Fix’ It?
China Raises Tariffs on U.S. Goods to 125% Amid Escalating Trade Dispute
Elon Musk Reports $150 Billion in Projected Government Savings Amid Fraud Investigations
U.S. and Panama Finalize Defense Agreements Amid Canal Access and Chinese Influence Concerns
China Stands Firm Amidst Trade Disputes with the US: A Factual Analysis
U.S. Tariff Escalation Sparks Global Trade Tensions
Helicopter crashes in NYC with four people on board.
Australia Dismisses China's Suggestion to Collaborate Against US Tariffs
EU Postpones Response to US Tariffs
The Trump Administration is contemplating removing Chinese companies from U.S. stock exchanges.
Violent Incidents and Public Safety Concerns Escalate in London and County Durham
UK MP Arrested on Suspicion of Rape and Child Sex Offences
UK Gears Up to Respond to US Tariffs with Industrial Strategies and Trade Initiatives
‘Rocky’ star Dolph Lundgren and his wife Emma Krokdal bask in the Miami sunshine following the actor’s lengthy health struggles.
Spain Encounters Countrywide Protests as Housing Crisis Intensifies
Alisha Lehmann's Modeling Campaign and Public Controversy Stir Debate Ahead of UEFA Women's Euro
U.S. Firms with Major International Revenue Exposure in Light of New Tariffs
President Trump Calls on the Federal Reserve to Reduce Interest Rates in Light of New Tariffs
President Trump Prolongs TikTok Sale Deadline by 75 Days
Global Markets Dive Amid Rising U.S.-China Trade Conflicts
British comedian Russell Brand faces charges of rape and several sexual assaults.
Kanye West Reveals in a New Song That His Wife Bianca Censori Has Departed from Him
Actor Jean-Claude Van Damme Accused of Having Sex with Human Trafficking Victims
Tom Cruise Pays Tribute to Val Kilmer at CinemaCon
Europe Pursues Digital Autonomy Amidst Transatlantic Strains
OpenAI Lands Unprecedented $40 Billion Funding.
×