Marc Thibaud Duchesne, a conman from London, faces years behind bars after using millions of pounds of investors money to splash out on cars, motorbikes, cigars and a speedboat
Conman faces jail
A CONMAN who used millions of pounds from investors to fund his lavish lifestyle is facing years behind bars.
Marc Thibaud Duchesne bought a string of luxury vehicles including a Ferrari Enzo, a Rolls Royce Phantom, a Bentley Arnage, several Hummers, motorbikes and even treated a friend to speedboat during a spending spree with money which should have been invested.
The 47-year-old also splashed out £60,000 on dentistry, £22,000 on cigars, £1m on refurbishing his London flat and thousands on chartering private planes.
Duchesne raked in more than 12m euro and £3m cash from clients after setting up Benchmark Asset Managers, which was regulated by the Financial Services Authority.
All the money is believed to have disappeared.
Duchesne, of no fixed abode, pleaded guilty to conspiracy to defraud between October 2004 and July 2006 and is due to be sentenced at Southwark Crown Court.
Thierry Doutrepoint, 56, Michael Gallagher, 65, and Edgar Huton, 64, who all admitted charges involving financial deception are also due to be sentenced.
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