A city businessman who swindled £50 million from investors and immediately blew the cash on cars, holidays and even a yacht was jailed for 10 years and 10 months on Friday.Richard Clay promised investors their money would be put into offshore property development schemes, and that their original investment sum was safe.In reality, the 50-year-old either blew the cash on his lavish lifestyle or ploughed it into various other projects – all of which were haemorrhaging money. Clay and...
