Michelman Robinson’s Tier 1 Private Prosecution team has successfully conducted a private prosecution on behalf of its clients against four individuals charged with defrauding investors of millions.
On Tuesday 24th February, jurors at Southwark Crown Court returned guilty verdicts on all 13 counts of money laundering and conspiracy to defraud, with 12 unanimous verdicts and one by an 11–1 majority. At a hearing on Friday, 20 March, HHJ Griffith directed that sentence for all defendants will be handed down on 17 July 2026.
The verdict follows a seven-and-a-half-week trial which started in January. The trial relates to events that took place in 2019 and 2020, when the defendants defrauded investors of millions of dollars and euros through purported high yield financial product schemes. Although the investors did not know one another, the schemes were said to have operated in strikingly similar ways, supported by formal documentation and the apparent involvement of established banks.
Three of the defendants were involved in promoting the scheme to victims and persuading them to invest. A fourth defendant was responsible for setting up and operating sham companies and bank accounts through which the funds were laundered. The Michelman Robinson team traced funds through the UK, Germany, US, Croatia, Bosnia, Dubai and Hong Kong.
The case proceeded as a private prosecution brought by family members of one investor. The Michelman Robinson team was first instructed in August 2020 and commenced proceedings in June 2021, with additional charges and defendants added in 2022.
Rebecca Chalkley KC and Vincent Scully, both of 6KBW College Hill, were instructed by Michelman Robinson for the prosecution.
Polly Sprenger, lead partner and top-ranked private prosecutions specialist, comments:
“This is a major victory for our client and underscores the importance of private prosecutions as a route to justice in the UK.
“We have seen a significant uptick in private prosecutions in recent years, as resourcing issues continue to impact law enforcement agencies, particularly in relation to cross-border fraud. This private prosecution is one of the largest of its kind and we anticipate that it will stand as a yardstick for high value economic crime private prosecutions in years to come.
“We are delighted to have achieved such an excellent result for our client and will now await sentencing.”