Kevin Foster (born 1958/1959) is an English investment fraudster, convicted of 14 counts of deception and theft in relation to his operation of a £34m (approx $51m) Ponzi scheme, which ran from 2002 to 2004.
By the time Foster was stopped, police discovered his scheme, originally called KF Concept but later renamed to Phase 9, had taken money from 8,500 investors, mainly drawn in through his series of flamboyant roadshows across the UK.
[2] The highlight of Foster's presentations came when previous investors' names were drawn by lottery, with the lucky winners being paid their promised returns early, in front of the crowd.
[4] In January 2004, the Kent Police, together with the Financial Services Authority, investigated Foster's investment affairs, and the following month halted his activities, discovering that by that time he had collected a total of £34m from more than 8,500 investors.
[4][5][6] It was also discovered that Foster had used large sums from the scheme to fund an extravagant lifestyle, buying a £600,000 farmhouse near Sittingbourne, Kent, which he stocked with exotic animals and where he installed Koi carp ponds.