A SCOTS lawyer and former hedge fund manager accused of defrauding property investors out of millions of pounds has been declared bankrupt.
Gregory King, of Glasgow, is accused by regulators of being behind an alleged £6 million property scam where investors money was used to buy land from him at massively inflated prices.
Mr King, a cousin of Glasgow nightclub magnate Stefan King who now lives in Malaga, Spain, has always denied the claims and says he acted in good faith, but financial authorities in Gibraltar believe the deals were fraudulent.
The Supreme Court of Gibraltar issued the bankruptcy order on hearing a petition from the administrator for a company called Advalorem Asset Fund. It raised money from invest…
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