Russell King: The man who conned Notts County

Notts County, one of the oldest football clubs in the world, became the stage for one of the most bizarre cons in sporting history. At the centre was Russell King: a charming, calculated conman whose deception nearly bankrupted the club and left fans reeling. In the summer of 2009, one man’s ambition and audacity almost destroyed a treasured institution.

Join Crime+Investigation as we delve into football’s trillion-dollar con and how Russell King turned out to be a fraudster and scam artist who took over Notts County Football Club.

The conman

Notts County wasn’t King’s first fraudulent hurrah. He had a history. In the early 1990s, he was jailed for insurance fraud after trying to claim £600,000 for his Aston Martin, which turned out to be safely stashed in a garage. Years later, he resurfaced with more ambitious, daring schemes.

By 2009, Mr King founded Swiss Commodity Holding (SCH), which allegedly held $2 trillion in assets, including exclusive rights to North Korea’s gold, coal and iron ore. He then slipped into influence by claiming he managed 'billions of dollars' for the Bahraini royal family, convincing First London PLC to hand over 49% of its shares to him.

But how did King get away with all this activity?

King’s persona was part of the charm. He even signed internal memos as 'Lord Voldemort' – a nod to the Harry Potter villain whose name must not be spoken.

Notts County takeover

In July 2009, fans watched with optimism as their supporters’ trust 'gifted' Notts County to a flashy new consortium called Munto Finance, a front for King’s manipulation.

The pitch was bold: reach the Championship in five years, powered by 'Middle Eastern' investment. And the star signing? Former England manager Sven-Göran Eriksson as the director of football.

Yet within months, the fantasy started crumbling. The promised money never materialised. Notts County was left facing debts of around £7 million. Eriksson, who had even been wooed into a bizarre North Korea mission – where he recalled being handed 'so-called shares' by regime officials – made it clear it was a massive mistake:

'I was in the palace … they were handing over … shares. I asked … how much … not millions, it was billions of dollars. They used my name … at the end it became a big, big mistake.' Eriksson told news outlets at the time.

First London was equally devastated, later collapsing with debts of £8.7 million.

Behind the scenes: A web of lies

However, Russell King’s reach extended beyond the pitch. He presented himself as an adviser, orchestrated negotiations and maintained control through proxy companies. The real ownership of the club, from Qadbak Investments and Munto Finance, remained opaque, shielded behind anonymity and offshore authorities.

Even respected figures were duped. Sir John Walker, former head of defence intelligence, said:

'What do I think of Russell King? Not a lot. He was good at chat, but that was his business. He was a con artist. I was taken the same way, Sven was taken. They just wanted names.'

The fallout

By early 2010, the unravelling was accelerated by club legend Ray Trew, who rescued Notts County for £1. Remarkably, despite the chaos, the team survived the season and even earned promotion, winning the League Two title amid the turmoil.

Still, the damage was deep. Notts County wasn’t out of the woods; the debt shadowed the club for years, culminating in relegation out of the Football League in 2019.

Justice is the goal

King evaded capture for years, moving across countries under aliases such as Barry Appleby and John Taylor. Finally extradited from Bahrain in 2018, he was charged in Jersey with numerous counts of fraud and larceny, as well as alleged misappropriation, possibly exceeding £16 million. In 2019, King received a six-year prison sentence but was released in 2021.

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