City conman flees before being jailed

A serial City conman who spent investors' savings on a champagne lifestyle is on the run from a six-and-a-half-year sentence imposed at the Old Bailey today.

Robert Taylor-Barefoot, 33, skipped bail just as he and business partner Jeremy Wright were to be confronted with overwhelming evidence about the £250,000 scam.

Taylor-Barefoot, who has 11 previous convictions for dishonesty, splashed £9,500 of company funds on his wedding and £15,000 at West End nightspot Mahiki.

He was convicted in his absence of conspiring with Wright and duping seven investors into believing their money would be traded in foreign currencies.

Sentencing today, Mr Recorder Nigel Peters QC described Taylor-Barefoot as "the promoter and brains behind the scheme". The judge criticised the courts for failing to force the conman, who uses at least seven aliases, to surrender his passport and tender a substantial surety as a condition of bail.

The frauds took place while the men, who met in prison, ran Jersey-registered BBA Capita Capital Management LLP and QFX Absolute Return Fund from 2008 to 2009, six months after they had been spared jail for another scam.

Wright, 41, who did attend court, was convicted of the conspiracy and five counts of fraud and jailed for four years.