A laird faces having to sell off parts of his estate – which includes Scotland’s most northerly nudist beach – after claiming he has lost £130,000 in a crypto scam.
Michael Dudgeon only got involved in the scheme to help pay off the bills at his 4000-acre Crakaig Estate in Sutherland. Dudgeon, 71, was tempted after seeing an ad promising huge returns.
He ploughed in nearly £100,000 in cash and investments with a broker that included crypto currency and oil price leverage. His portfolio appeared to have risen to £402,000.
But when the divorcee tried to get his money out, he was allegedly told by a crypto currency trader then managing his money that he had to pay £34,000 in early exit penalty fees to Coinbase – the world’s best-known digital currency exchange – where his money was apparently eventually parked. The laird paid up only to be asked for £18,000 for “capital gains tax”. Having paid £4000, he got suspicious and ran out of cash.
Dudgeon said: “I could lose the whole estate but certainly may have to sell off parts. I am now resigned to having lost all my money. I feel I have been scammed. The banks say ultimately it was my decision and my risk.”
On its website, Coinbase warns of “websites or services promising high returns or unrealistic investment opportunities. If it sounds too good to be true, it usually is.”
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