AN OFFSHORE worker threatened to slash a man behind a doomed £200,000 investment venture unless he stumped up cash.

Gary Greig, from Kilwinning, extorted £8,000 from the individual who was said to have headed up the Ponzi-scheme.

During a phone call, the first offender stated: "It's going to all kick off if you do not have it next week.

"It is going up to 10, them f***ing boys are up and whatever happens, happens.

"I just want to get this money back."

The 45-year-old's fellow rig worker Brian Welsh, 47, also later warned the man to pay up.

It emerged neither had actually invested in the failed scheme.

It was another offshore colleague of Greig's who had instead lost money.

But both Greig and Welsh ended up arrested and in the dock at Glasgow Sheriff Court.

Greig pleaded guilty to a single charge of extortion while Welsh, of Milton, Glasgow, admitted behaving in a threatening and abusive manner.

The court heard the man heading the scheme had sought investors in 2016 for a "short term, high return" business opportunity.

The promise was people could double their money after six months.

Those who ploughed in cash included Kevin Nichol, who handed over £40,000.

He knew Greig from working offshore.

But, prosecutor Nick Konopate said "no return" was made on the scheme, leaving investors "out of pocket".

In October 2018, the man behind the failed venture got a call from a private number - later identified as Greig.

Greig said Mr Nichol had originally borrowed money from him and could not longer re-pay, having lost his £40,000.

Greig stated the man was now responsible for the debt.

Mr Konopate said: "Greig told [the man] that he was going to get slashed if he did not pay the money owed."

The sum demanded was later raised to £8,000.

The man eventually scrambled to get the money before an associate of his met Greig in a car park near Glasgow Central station to hand over the cash.

Mr Konopate said: "On receipt of the money, Greig said that the issue was settled and deleted [the man's] number."

But on Christmas Eve 2018, he then received a call from a Glasgow number later identified to belong to Welsh.

The fiscal told the hearing: "During the call, Welsh said £2,800 further was to be paid.
"He was told a man would come and sort him out."

The man this time contacted police and Welsh was arrested at Aberdeen Airport in April 2019.

Greig was held a few weeks later.

Colin McLaughlin, defending Greig, said: "He is a first offender who has never been in bother before.

"He had no link to anyone in the Ponzi type scheme other than Mr Nichol, who made a significant investment. 

"They met each other working offshore. Mr Nichol owed him a £4,500 debt which was outstanding.

"He was struggling financially, anxious to get the money back and for Mr Nichol to return the money.

"However, he could not pay due to the money lost in the scheme. This was when Mr Greig was involved."

Welsh's lawyer told the court that his client's involvement was "foolish."

Greig was ordered to do 187 hours of unpaid work while Welsh will carry out 75 hours.

Sheriff Jonathan Guy told Greig: "The threats you made were serious and likely to cause distress.

"This was highly unpleasant and for illegitimate purposes."

Welsh was told that his call was also "unpleasant" and without purpose.