England

Man sentenced over false deposit linked to Ponzi scheme

John Napoli
Image caption Napoli was convicted at an earlier hearing

A US businessman has been given a 12-month suspended sentence for accepting a deposit linked to a Ponzi scheme targeting London communities.

John Napoli, 51, of Sevenoaks, Kent, was sentenced after being convicted at an earlier hearing of unauthorised deposit taking.

A Metropolitan Police inquiry began in 2005 after victims reported being duped out of large sums of money.

Ponzi schemes offer investors high returns over a short period of time.

Vibhawa Fonseka, 41, of Spring Grove Crescent, Hounslow, west London, was jailed for leading a gang of people who targeted Sri Lankan communities with promises of plentiful profits for joining the scheme.

Fonseka is serving an eight-year sentence after being convicted of money laundering, 30 counts of deception and unauthorised deposit taking.

Samantha Koralage, 38, of Elvin Court, Kingsbury, London, and Upul Dezoysa, 60, of Long Lane, Ickenham, west London, have pleaded guilty to unauthorised deposit taking and are due to be sentenced on 28 February.

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