Prosecutors Seek £2M From Fugitive In Insider Dealing Case

Law360, London (September 4, 2020, 3:19 PM BST) -- Prosecutors demanded on Friday that a fugitive businessman convicted of money laundering in Britain's largest-ever insider trading case should return approximately £2 million ($2.7 million) that he allegedly made by laundering the proceeds from the conspiracy.

Prosecutor John McGuinness argued at Southwark Crown Court that Richard Baldwin had obtained the funds from his "criminal lifestyle" and claimed that an approximate total of £1.7 million in cash and assets is available to be recovered. The prosecution is asking for more than the amount of the laundered proceeds because the money has risen in value since the time of the offense.

Baldwin, 56, was...

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