A respected accountant was behind a bank account used by a gang of internet fraudsters to con victims out of £1.25 million with promises of inheritance and lottery wins, a court was told yesterday.

Peter Rust, 58, allegedly used a Barclays account belonging to a client of his City of London accountancy firm to process money from more than 30 victims, who each paid thousands of pounds in “fees” after being told by e-mail that they were entitled to large sums of money. He is said to have used his position as the sole principal of Fordyce Curry & Co to receive the money at a branch of Barclays in Woodford Green, East London, before it was transferred abroad.

Mr Rust, an accountant for 37 years, pleaded not guilty at St Albans Crown Court to entering into an arrangement that facilitates the acquisition, use or control of criminal property. He also denied two charges of conspiring to furnish false information.

Stuart Trimmer, QC, for the prosecution, said that Mr Rust, of Hatfield Broad Oak, Essex, was in effective control of the account. In 2003 £1.25 million was paid into it by victims in America, Europe, Israel and the Far East.

The trial continues.

Times Recommends

• Everyone will get vaccine against swine flu
• Artificial sperm and the race to build a baby
• BBC jets out stars to tout for prizes