Breaking News: Gallant Ponzi Scheme Uncovered – Investors Devastated, £30 Million Stolen, Overdrawn Bank Accounts, and False Promises

A shocking Ponzi scheme has been exposed, with Gallant Building Services, Gallant Holdings, and Gallant Engineering at the center of a scandal that has defrauded investors of over £30 million. This elaborate fraud, orchestrated by Chris Lightbody, Jonathan Lightbody, and Scott Bithel, has destroyed the lives of more than 50 families, leaving them financially ruined.

 

Overdrawn Bank Accounts and False Promises

 

Despite the directors of Gallant claiming lucrative contracts with Travelodge and promising investors substantial profits, evidence now shows that Gallant’s bank accounts were overdrawn on several occasions. When new investors were depositing money, the company was already deep in debt. Despite this, the directors continued to solicit new investments, assuring investors of lucrative contracts that never existed.

 

They falsely claimed to have an exclusive contract with Travelodge and assured investors that their funds were insured, when in reality, no such agreements existed. This misleading narrative was a deliberate ploy to keep the money flowing while lining their own pockets.

 

Andretti Family Involvement

 

Adding to the intrigue, the Andretti family—renowned in motorsports—was involved as shareholders through their company, Four Sides LLC. This connection provided an air of legitimacy that convinced many investors. However, in September 2024, as the scam began to unravel, the Andretti family swiftly withdrew as shareholders, raising serious questions about their involvement and whether they knew of the fraudulent activities.

 

Further investigation reveals that Scott Bithel and the Andretti family were connected through another entity, Three Sides LLC. This raises suspicions about the special relationship between Jarett Andretti and Scott Bithel, the mastermind of the Ponzi scheme.

 

Lavish Spending on F1 and Luxury Cars

 

The funds siphoned from investors were not used for legitimate business purposes but were instead misappropriated to fund extravagant lifestyles. A significant portion of the stolen funds was funneled to Jonathan Lightbody, Chris’s brother, to finance Formula 1 Grand Prix travel. Jonathan also used Gallant’s money, with Scott Bithel’s assistance, to acquire luxury cars like Rolls-Royces and Aston Martins.

 

Meanwhile, Chris Lightbody directed substantial amounts of investor money towards his own home extension, luxurious holidays, and F1 trips in Monaco—complete with helicopter rides. The Lightbody brothers even developed a taste for private dining, regularly hiring private chefs to cater extravagant meals.

 

Gallant Sponsorship of Jarett Andretti’s Racing Career

 

Further investigation also uncovered that Gallant was a sponsor of Jarett Andretti’s motorsport career, using investor money to splurge on racing cars. Instead of supporting legitimate business ventures, the funds were directed to promote Andretti’s racing endeavors, further eroding investor trust.

 

Web of Financial Deception

 

A review of Gallant’s financial records reveals a textbook Ponzi scheme. Funds from new investors were used to pay off older ones, while little to no legitimate business activity was occurring. The bank statements show that luxury cars, private chefs, expensive holidays, and personal property upgrades were all funded by misappropriated investor money.

 

The company’s finances were in shambles, with overdrawn accounts and no real prospects of fulfilling the promises made to investors. New investments were crucial to keeping the scheme afloat, with the directors constantly fabricating new lies to attract fresh funds.

 

Call for Justice

 

This Ponzi scheme has caused irreparable harm to families, retirees, and everyday people who trusted Gallant with their life savings. Now, many are left destitute. Authorities are being urged to investigate thoroughly, as there are also suspicions of tax evasion, money laundering, and fraudulent reporting.

 

It is clear that Jonathan Lightbody, Chris Lightbody, and Scott Bithel used investor money to fund lavish lifestyles while providing false assurances to those who trusted them. The bank statements, which provide an undeniable paper trail, show the full extent of the deception and misuse of funds.

 

Ongoing Investigation

 

As the Serious Fraud Office, HMRC, and other authorities continue their investigation, the full scope of the scam is coming to light. The evidence is damning, and justice must be served for the many victims who have lost everything.

 

What’s Next?

 

If you’ve invested in Gallant or suspect you may be a victim of this fraud, contact the Administrator or authorities immediately. There may still be a chance to recover some of the lost funds, but action must be taken quickly to prevent the perpetrators from moving any remaining assets.