Constructing a Financial Foundation?

BBC News article - Builder accused of Pyramid Scheme denies fraud of £2m

According to a BBC News article published on Thursday, 14^th August 2025, a builder accused of defrauding customers of more than £2m denies his business was nothing but a pyramid scheme.

Mark Killick, 56, from Paulton in Somerset, denies 46 counts of fraud against homeowners across the west between December 2019 and November 2021 and is on trial at Bristol Crown Court.

James Tucker, prosecuting, asked the defendant if he was marketing his company, TD Cole LTD, as a large company that was skilled and reliable, when in reality it had no employees, no business assets and no premises.

"The reason you had a cash flow problem was because you were running it as a fraud. A pyramid scheme," Mr Tucker said.

"That's completely mental," Mr Killick replied.

Killick is presented with a straightforward clear assessment of the operation he was running. He has the opportunity to deny the claims - which he fails to do. There is a complete lack of any reliable denial, instead offering up a non-answer. Additionally, he fails to offer any other reasonable explanation for the business collapsing.

Mr Tucker said: "You were using the rest of your customers' money to go into your pocket".

Mr Killick responded: "All of the money coming in was sales and and the money going out was business expenses and yes I did get wages like anybody else”.

Mr Killick did not answer when asked where all the accounts setting out the company's assets and liabilities were, or if any such documents had ever existed.

When elaborating on the company's transactions, he is unable to provide any documentation or evidence of any record keeping. He is accused of committing a £2m fraud.

"Is the reason there's no full documents because all you need to run a Ponzi scheme is to keep selling and to put off any costs for as long as possible before the company inevitably goes pop?" Mr Tucker said.

"There's no basis to the figures you're saying. It's just a load of rubbish," Mr Killick said.

Killick becomes evasive, deceptive and with some signs of panic as evidenced by his confused answer, no figures were mentioned. Only another non-answer is offered. There is no denial of any kind to the scenario presented to him.

Jurors have been told Mr Killick served time in prison after pleading guilty to fraud charges in 2014 and had previously pleaded guilty to further fraud charges in both 2008 and 2009.

The trial continues and it will be interesting to see exactly what the jury makes of it all.

Reference to written article: https://www.bbc.co.uk/news/articles/cg501vy3mlmo

Photo Credit: BBC News

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