Richard Rufus set to leave Charlton after masterminding £16million fraud scheme

Richard Rufus set to leave Charlton after masterminding £16million fraud scheme DM.later('bundle', function() { DM.has('back-to-top', 'FloatingButtons'); }); Richard Rufus was branded a fraudster by High Court judge this monthHe is said to have accepted more than £16million from investorsJudge said money received unauthorised and in breach of regulationsRufus misused money given to him by officials at two churchesBy Declan Warrington, Press Association

Published: 15:21 GMT, 23 November 2015 | Updated: 15:21 GMT, 23 November 2015

Richard Rufus has resigned from his posts at Charlton after being found to have overseen a multi-million pound fraud.

The retired defender, who spent his entire professional career with Charlton between 1993 and 2004, had been working as an academy coach and an ambassador for the community trust at the south London club.

However, he has now quit after he was branded a fraudster by specialist civil court judge Clive Jones at the High Court in London earlier this month.

Richard Rufus arrives at the High Court in London where he was branded a fraudster by a civil court judge

Rufus (right) had been working at he club as a coach and ambassador but is believed to have resigned

Bankruptcy registrar Jones said Rufus had accepted more than £16million from investors between 2007 and 2011 - without authorisation and in breach of financial regulations.

He had lost more than £5m through currency exchange trading and used more than £3m for his 'own purposes'.

He had also given money which came from the pockets of some investors to other investors and pretended that money was profit.

Registrar Jones said Rufus had misused money given to him by officials at two London churches he had links with.

He said Mr Rufus had 'exploited trust and friendship' and what he had done was 'in substance a fraud'.

Charlton are expected to announce his departure later this week.

The Financial Conduct Authority, which has the power to prosecute in such cases, refused to comment on Rufus' case earlier this month.

Rufus (left) spent his whole professional career at Charlton, playing at The Valley from 1993 to 2004

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