Businessman Accused Of Hiding Fraudster's Assets

By Sophia Dourou (July 26, 2022, 5:16 PM BST) -- A businessman accused of interfering with the retrieval of a convicted fraudster's assets through shares in offshore companies told a London court Tuesday that the value of those assets will show whether he is in contempt of a previous order.

A lawyer for Nicholas Thomas told the High Court on Tuesday that two businesses in the Marshall Islands in the Pacific were not held for Gerald Smith, who was sentenced to eight years in prison in 2006 for funneling funds from the company into his investment business. They were therefore not subject to confiscation proceedings, Tom Cleaver said.

The Serious Fraud Office won its...

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