Up to $20m at risk as American trader vanishes

[FarCenter]

By James Thompson - Monday, 19 January 2009 http://www.independent.co.uk/news/business/news/up-to-20m-at-risk-as-american-trader-vanishes-1419354.html

UK investors could be nursing huge losses after being hit by a similar Ponzi scheme to that operated by Bernie Madoff.

Dennis Bolze, a stock trader from Tennessee who is being pursued by the US authorities, failed to attend a bankruptcy court hearing late last week.

About 100 unnamed investors, largely from the UK and other European countries, invested up to $20m in Centurion Asset Management, the company through which Mr Bolze said he was engaging in day trading.

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Not just Wall Street -- Gatlinburg, Tennessee as well.