By Lynda Roughley, April 17, 2008
A Manchester businessman was involved in a huge international “advance fee” fraud, a court heard.
Michael Rashman and fellow Freemason Carl Montlake are said to have created and operated a number of businesses, beginning in 1990.
The traded in the sub-prime mortgage market for both residential and business properties. Some businesses traded at the same time.
The prime vehicle for the fraud was a company called Alliance International Ventures, which was formed after 1997 to offer funding for foreign commercial projects ranging from $1m to $120m, the court was told.