16 July 1998
Five charged with ostrich fraud
FIVE men have been charged with fraud over the collapse of the Ostrich Farming Corporation.
The Department of Trade and Industry closed the corporation down in April 1996 after it had taken almost £22m from 2,700 investors. OFC sold ostriches to investors and promised annual returns of up to 50%.
Brian Ketchell, Allan Walker, Jack Bennett, Kevin Jones and Russell Jones, were all charged with conspiracy to defraud.
The five were released on bail to appear at Mansfield magistrates count on 12 August. The offence carries a possible sentence of 10 years in prison.
- Financial Times 16/07/98 page 10