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Seven charged after West Cornwall fraud investigation
4:40pm Friday 16th August 2013 in News
Seven people, including five members of the same Cornish family, have been charged after two year and nine month £20million fraud investigation.
The Force’s Economic Crime Unit launched a probe into the failure of three companies, Crown Currency Exchange Ltd (CCE), Crown Holdings Ltd (CHL) and Mayfair & Grant Ltd (M&G).
Crown Currency Exchange, a large foreign exchange firm, went under owing millions to people in October 2010.
Thousands are thought to have been left out of pocket after it went into administration with assets of £3m.
The company supplied people with overseas currencies at a set price, up to a year in advance, as well as travellers' cheques and money transfers.
Former director Peter Benstead, 70, has been charged with offences of fraudulent trading, money laundering, perverting the course of justice, theft, deception and false accounting companies act offences.
Julian Benstead aged 44 years from Penzance charged with fraudulent trading and theft.
Katey Calvimonte aged 35 years from Penzance charged with deception, and perverting the course of justice.
Roderick Schmidt aged 44 years from Penzance charged with fraudulent accounting, perverting the course of justice, theft, false accounting and companies act offences.
Victoria Obrien aged 37 years from Welwyn, Hertfordshire charged with perverting the course of justice.
Stephen Matthews aged 50 years from Penzance charged with fraudulent trading, theft, false accounting and companies act offences.
Former mayor of Glastonbury Edward James, who was also once the chairman of Mendip District Council, has been charged with fraudulent trading, false accounting and companies act offences.
All seven have been released on bail to appear before Westminster Magistrates in London on September 17.