Man Convicted for Trying to Sell Fancy London Hotel
A jury in London convicted Anthony Lee, 49, of duping an investor out of millions of dollars, according to the BBC.
The scam began four years ago. Lee actually was able to convince some of London's top real estate investors that the landmark hotel property was for sale for a bargain price of about $378 million, and that he represented the allusive owners, the BBC says.
The con included Lee saying he was close friends with Frederick and David Barclay, billionaire brothers who own the hotel as well as the Daily Telegraph newspaper.
Lee was able to pull off his scheme even though when he began he was borrowing money from family and friends to pay his rent. He did not even know the Barclays, the BBC reports.
One broker gave Lee a downpayment of about $1.5 million after Lee pressured him saying another buyer was interested in the hotel. When the broker asked for some sort of security, "Lee assured him his word was his bond," the BBC reports.
Photo, colin gregory palmer, flickr