Jersey's Lumiere fraud victims to receive £785,000

The group of elderly, vulnerable and financially inexperienced clients who lost £2.7m of their money to convicted fraudster Christopher Paul Byrne, the former boss of Jersey-based Lumiere Wealth, have been awarded over £785,000 in compensation by the Royal Court. Bryne was sentenced to seven years in prison last year, after being convicted on 16 counts of financial misconduct. While Byrne's benefit from criminal activity was calculated at almost £1.05m, the investors in court were told that should the sale of his assets return more than the £789,000  The amounts that could be confi...