Three fund managers convicted in complex £46m multi-jurisdictional fraud

Mark Battersby
clock • 3 min read

Three fund managers have been convicted of a large-scale fraud which resulted in losses of £46m to the Libyan Sovereign Wealth Fund, the UK's National Crime Agency said in a statement on 8 December.  Frederic Marino and Yoshika Ohmura were found guilty of conspiracy to commit fraud by abuse of position. Aurelien Bessot pleaded guilty to one count of fraud by abuse of position of trust prior to the start of the trial. Marino, formerly head of JPMorgan's alternative investment emerging market group , was convicted in his absence at London's Southwark Crown Court of one count of conspira...

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