Andrew Feldman takes rabbi to court over spread betting losses

Andrew Feldman takes rabbi to court over spread betting losses

Monday, 10 May 2010

Andrew Feldman is no stranger to the mainstream media with the tabloids taking a special interest in his meteoric rise from paperboy to high stakes professional.

The 22-year-old from Hertfordshire was in the papers again over the weekend, this time concerning a very strange court case involving spread betting and a rabbi. The High Court heard that Feldman had lost £700,000 playing poker (a figure Feldman disputes) before turning to rabbi Simon Nissim to make spread betting investments on the US stock market on his behalf.

Feldman claims that the rabbi did indeed place bets on his behalf but also made a large number of unauthorised wagers which left him £140,000 out of pocket. The young pro is asking judge Richard Snowden QC to set aside the money demand made by the rabbi.

Nissim's barrister, Richard Ritchie said that Feldman had told the rabbi that he was prepared to lose up to £200,000 and was informed after each losing session.

No decision was made at the initial hearing with the judge saying that he would give his judgement at a later date.

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