Jacob Bindman and Jessie Smith secure acquittals in multi-handed boiler room fraud

Jacob Bindman leading Jessie Smith, instructed by Rhona Friedman (Managing Director, Commons CIC) secured acquittals on counts of conspiracy to commit fraud and money laundering at Southwark Crown Court.

The case concerned an investment scheme approved by an FCA regulated finance house in whose name £1 m had been extracted from sophisticated investors.

SM was tried for his part in a conspiracy to sell unsecured debentures between 2013 and 2015 and move profits through bank accounts in Hong Kong, Dubai and Cyprus.  The court heard evidence concerning a range of business ventures conducted by the co-defendants, including diamond mining in Sierra Leone and the extraction of precious metals in Nevada.

Following a 6-week trial the jury returned unanimous verdicts of acquittal on both counts.