FCA Wins £1.6M Order Against Fugitive In Tabernula Case
Law360, London (October 5, 2020, 1:47 PM BST) -- A fugitive businessman convicted of money laundering in Britain's largest-ever insider trading case should return £1.6 million ($2.1 million) or have eight years added to his prison sentence, a court ruled on Monday.
Judge Christopher Hehir ruled at Southwark Crown Court that Richard Baldwin must pay the money in full within three months or have his jail sentence extended. Baldwin was convicted in July 2017 of laundering £1.5 million but fled the U.K. during legal proceedings brought by the Financial Conduct Authority.
The amount the FCA secured on Monday is lower than the £2 million prosecutors argued for at a hearing last month. ...
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