Businessman Loses Bid To Recoup £2.3M From Convictions

Law360, London (August 23, 2019, 5:26 PM BST) -- Two Cypriots convicted of fraud cannot sue the Iran Investment Co. and its chairman for £2.27 million confiscated by the British government because the action seeks to reopen matters already dealt with in the criminal courts, a London judge ruled on Friday.

Master Paul Teverson dismissed a High Court claim filed by Andreas Kitallides and his son Alexios Kitallides against the investment company stemming from confiscation proceedings after their fraud convictions. The judge also set aside a previous order allowing the pair to serve the claim by alternative means.

The two men were found guilty in 2013 by a jury at...

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