Man Ordered To Pay £14M To FCA Can't Avoid Jail Time

Law360, London (March 29, 2019, 2:54 PM GMT) -- A conman who was ordered to pay more than £14 million ($18.3 million) to the U.K. Financial Conduct Authority for his role in an investment scam has lost an appeal against his prison sentence for breaching two worldwide asset-freezing orders.

The Court of Appeal handed down formal reasons on Thursday for why it would not shorten Robert McKendrick’s six-month sentence for contempt of court, which was imposed on March 1.

“The appellant's conduct ... was plainly so serious that no sanction other than a significant term of imprisonment could be justified,” Justices Nicholas Hamblen and Timothy Holroyde said in a joint...

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