Danyl band's ex-backer denies scam

A former backer of X Factor star Danyl Johnson's old band Upfrunt pocketed more than £700,000 from unwary friends and others with a "crooked" investment scam, a court has been told.

A former backer of Danyl Johnson s old band Upfrunt denies running an investment scam A former backer of Danyl Johnson's old band Upfrunt denies running an investment scam [PA]

Andrew Papadopoulos allegedly misled them with "astonishing" guarantees of 17.5% returns after just 12 weeks while boasting of his successful spread betting and lucrative dealings with the pop world.

Papadopoulos, 40, of east London, denies 24 charges covering a two-year period from January 2003 at London's Southwark Crown Court.

His pop dealings, he explained, included investing in the singer's old group Upfrunt, and memorabilia such as Elvis Presley's marriage certificate, the court heard. Having been "blinded" with financial science and convinced of his financial acumen, hundreds happily cashed in their savings, pensions and premium bonds and handed it over.

Helen Malcolm, QC, prosecuting, claimed although investigators found he had spent £81,000 on pop memorabilia, he never made any money. "And as far as the boy band was concerned, there was an invoice of £295 found for studio hire," she said.

In addition, he spent £9,572 on his brother's rent while his sibling was also a member of the group. "If that is investment in the boy band so be it," Ms Malcolm added.

The barrister told the court many of the defendant's investors were left much poorer as a result as their cash was squandered supporting his "lifestyle" or paying small amounts to other investors.

"The Crown's case is simple - he is a crook, a thief and a conman," she alleged.

The barrister added when the authorities began to close in on him he withdrew £60,000 and fled to Greece. But he was eventually tracked down and extradited back to Britain.

Papadopoulos, of Eagle Lane, Leytonstone, denies a total of 24 charges covering a two-year period from January 2003. Eighteen allege he knowingly obtained a total of £615,000 by deception, while three accuse him of thefts involving £100,000 and one of attempting to steal £40,000.

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