A couple have been accused of obtaining nearly £350,000 by fraud with an elaborate spread betting scam.
Peter Plimley, 67, and his wife Wendy Plimley, 60, appeared from custody at Perth Sheriff Court on Tuesday in connection with the Ponzi-style scheme.
It is alleged that they obtained a total of £345,709 by fraud in the space of just three years by duping punters into thinking their spread betting system could not fail.
The couple, from Croftvale, Church Road, Kinfauns, Perthshire, are alleged to have conned punters into investing ever greater sums of money in the scheme.
They both appeared in private on a petition alleging that they ripped off more than a dozen investors by fooling them into thinking their portfolio was continually rising in value.
The petition alleges that some of the individual investors in the couple’s spread betting project lost upwards of £80,000.
It is also alleged that the Plimleys were mounting up significant losses rather than the profits they claimed and made up a story to try and hide their failure.
They are alleged to have pretended to numerous backers on November 8 2013 that a single bet featuring the entire fund had failed and lost everyone their cash investment.
But that charge alleges that the couple knew they had already racked up significant losses along with some gains over a lengthy period of time. They are accused of making up the “single failed bet” story in a bid to retain money by fraud.
It is alleged that they induced Dianne Allan to invest £20,000 between December 1 2011 and December 1 2013 and told her they made no losses and constant gains.
A similar charge alleges they pretended to Roy Allan that his £2,000 investment was a success and persuaded him to invest a further £39,350 in it.
Mervyn Jones was allegedly defrauded out of £2,000, while Allan McLaughlin and Robin Walker were reportedly victims of an £80,000 fraud.
Alan Barr is alleged to have been persuaded to increase his initial £2,000 fund to £20,150, while Scott Cairns added £77,859 to his initial £10,000 investment.
Carol Lafferty was alleged to have added funds on behalf of others, including her mother, to a total value of £17,000. Dyane and Cyril Lanez are alleged to have lost £10,000.
It is alleged Kenneth Goldie was convinced to add £6,000 to his £15,000 entry investment, while Steven Allan allegedly lost a total of £16,500.
Claire Feeley is alleged to have been taken for £28,000, while Caroline Doyle allegedly lost £850. John Wylie reportedly lost £1,000 and was also induced to introduce at least two other people to the scheme.
The Plimleys appeared separately and neither made any plea or declaration to the 14 charges. The case was continued for further examination and they were freed on bail.