Richard Baldwin sentenced to more than 5 years in money laundering case

A luxury-watch dealer who laundered the proceeds of insider dealing through Panamanian companies and offshore bank accounts has been sentenced in absentia to five years and eight months in prison. Judge Christopher Hehir sentenced Richard Baldwin after saying that the jeweler had been convicted on "compelling evidence" of "extremely sophisticated" money laundering, the Financial Conduct Authority, which prosecuted the case, said in a statement Tuesday. The case was part of a wider insider-trading probe that resulted in the conviction of a Deutsche Bank AG broker. Baldwin was sentence...