Ian Bridge, a specialist fraud practitioner from No5 Chambers, has successfully defended a North Wales business man who found himself facing eight separate allegations of fraud on his company, which at the time was indebted to the Natwest Bank.
According to No5 Chambers, although the business was solvent it was referred to the RBS global restructuring group (GRG), which insisted on the appointment of a consultant.
The consultant ended up acquiring the business for nothing before selling it for almost £1m. He reported the original owner to police and pressed hard for his prosecution. He was arrested and charged.
On being handed disclosure provided following the issue of witness summons against liquidators, accountants and RBS, the CPS offered no evidence. It could not rely upon the evidence of the bank-appointed consultant as being truthful.