SFO Suit Over Fraud Assets Gets New Parties As Trial Looms

Law360, London (May 21, 2020, 7:40 PM BST) -- A London judge has added several potential legal owners of assets sought by the Serious Fraud Office to a suit to recover funds from a convicted fraudster, saying they are "essential parties to the resolution" of the dispute.

Judge David Fox said in a ruling Wednesday it was appropriate to add six new parties to a planned 2020 trial to determine claims by the SFO and others to get payment from Gerald Smith, who was jailed for eight years in 2006 for stealing £35 million ($42.8 million) from computer software company Izodia and was ordered to pay back £41 million a year...

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