Defendants found guilty in landmark prosecution

In a significant legal milestone, all four defendants were found guilty in a landmark private prosecution led by Michelman Robinson’s Tier 1 Private Prosecution team. On Tuesday, 24th February, jurors at Southwark Crown Court returned guilty verdicts on all 13 counts of money laundering and conspiracy to defraud, which included 12 unanimous verdicts and one decided by an 11–1 majority. Following a seven-and-a-half-week trial that commenced in January, Judge HHJ Griffith announced that sentencing for all defendants is set for 17th July 2026.

The case centred on events from 2019 and 2020 when the defendants orchestrated schemes that deceived investors out of millions of dollars and euros by promoting purported high-yield financial products. Despite the victims not knowing each other, the schemes operated suspiciously similarly, bolstered by formal documentation and the alleged involvement of established financial institutions. Three of the defendants played a crucial role in marketing the schemesto victims, while a fourth was tasked with establishing and managing sham companies and bank accounts for laundering the illicitly obtained funds.

Michelman Robinson’s team successfully traced the laundered funds across various countries, including the UK, Germany, the US, Croatia, Bosnia, Dubai, and Hong Kong. This private prosecution was initiated by family members of one investor following the realisation of fraud, with Michelman Robinson being instructed in August 2020 and formal proceedings beginning in June 2021. Additional charges were incorporated in 2022, which reflects the evolving nature of the case.

Rebecca Chalkley KC and Vincent Scully, both representing the prosecution from 6KBW College Hill, provided notable legal expertise throughout the trial. Commenting on the outcome, Polly Sprenger, lead partner and distinguished private prosecutions specialist, said, “This is a major victory for our client and underscores the importance of private prosecutions as a route to justice in the UK.” She also highlighted the increase in private prosecutions amid resource challenges faced by law enforcement, noting, “We have seen a significant uptick in private prosecutions in recent years, as resourcing issues continue to impact law enforcement agencies, particularly in relation to cross-border fraud."

Sprenger expressed confidence that this case, being one of the largest private prosecutions to date, would set a significant precedent for tackling high-value economic crime in the future. She concluded, "We are delighted to have achieved such an excellent result for our client and will now await sentencing."

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