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15NBS Chambers

David Aaronberg QC secures convictions of four in £160m financing fraud

By February 12, 2017No Comments


Following a five month trial, four defendants were sentenced to a total of 44 years’ imprisonment in respect of the obtaining of almost £160m from the asset financing divisions of KBC, a Belgian bank, and Barclays.  The frauds involved the inflation and fabrication of 45 separate bogus contracts and supporting documentation used to convince bank staff that multi-million pound contracts had been entered into between local councils, universities and other ‘triple A’ end users and a company selling fibre-optic cabling.