Fraudster who fled to Bahrain after stealing gets jail in Jersey
After fleeing to Bahrain from Jersey more than a decade ago, Russell Stephen King (60) was brought to justice when he was jailed for six years recently, reported Jersey Evening Post. King, who appeared in court in a wheelchair, laundered a total of £671,000 from the now-defunct Belgravia Financial Services Group, of which he was a shadow director, over a three-month period in 2008. Much of the money was then hidden in Switzerland.
He also sold ‘cherished registration plates’ on behalf of his former business partner Duncan Hickman, following his sudden death and kept the money for himself. King pleaded guilty to five counts of fraudulently converting a total of £740,286 of money belonging to others. Crown Advocate Matthew Jowitt, prosecuting, said King’s motivation was ‘pure greed’.
The lawyer said the defendant was a man who was known among staff to enjoy first-class flights around the world, five-star stays at the Ritz-Carlton in Bahrain and at the Dorchester in London, as well as trips to the Island and dinner for his parents at Longueville Manor – all on the financially crippled company’s expenses.
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