INVESTIGATION: Inside Britain’s biggest Ponzi scheme
The Story
The Times
3.9 • 1.6K Ratings
🗓️ 7 April 2026
⏱️ 35 minutes
🧾️ Download transcript
Summary
Thousands of pensioners invested their life savings into London Capital and Finance before it was revealed to be the UK’s biggest ever Ponzi scheme. Now, new Times reporting shows how the millions in investments were lavishly spent by LCF’s founders. So how was a scheme on this scale allowed to take root in the first place?
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Guests:
- Jim Armitage, contributing editor, The Sunday Times.
- Antonia Summer, investor in LCF.
Host: Manveen Rana.
Producer: Harry Stott, Callum Martin.
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Read more: Inside Britain’s biggest Ponzi scheme: where did £237m go?
Clips: Rehman Chisti MP / Facebook.
Photo: Getty Images.
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Transcript
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| 0:00.0 | From The Times and the Sunday Times, this is The Story. |
| 0:05.0 | I'm Manvien Rana. |
| 0:07.0 | There's this corner of Sussex and Kent, near Ashdowne Forest, made famous by A.A. Milne, who wrote Winnie the Pooh nearby, where millionaires |
| 0:23.9 | live. It's a sort of a millionaire's playground. |
| 0:28.9 | That's Jim Armitage, a contributing editor at the Sunday Times. |
| 0:34.1 | He found himself in this well-heeled neighbourhood on the hunt for one particular estate. |
| 0:40.3 | One of the biggest properties in the area, Home Farm, I went to visit it last year, and it's sort of how the mighty have fallen. |
| 0:49.3 | It's a once beautiful house there, the big sort of manor house, which is in rack and ruin, the swimming pool |
| 0:55.5 | collapsing in the sides, and this sort of green sludge floating on the surface. The stables, |
| 1:02.1 | it was a huge number of horses that were stabled there, just kind of crumbling apart. And it was a |
| 1:07.9 | really grim scene of faded grandeur really. |
| 1:11.6 | Rewind more than a decade and home farm was a very different place. |
| 1:18.6 | It was the moneyed backdrop to a racy, glamorous social scene, |
| 1:25.6 | where the owners revelled in living the high life and flaunting their wealth. |
| 1:32.4 | It was one of the most lavish properties in the county. Not only was it a lavish property, it was also a big sort of social scene around this place. |
| 1:41.6 | They had a lovely heated swimming pool where you'd often have these incredibly |
| 1:45.4 | glamorous pool parties with young and beautiful people. They'd sort of parade past the fleet of |
| 1:51.5 | luxury cars, supercars, bentley's, land rovers and all the rest that were parked up out the front. |
| 1:56.9 | And then there's sort of the star attraction at the top of the hill, at the top of the property. |
| 2:00.8 | There was this big helipad with a windsock and lights that would light up for the pilots as they descended at night. |
| 2:08.7 | The helicopters would come chop, chop, chop, chop, chop, chop across the valley and land at the top of the premises. |
| 2:15.9 | Now that we've done the tour, I know what you're thinking. |
... |
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