October hearing for £250m Imperial case

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The Independent Online

Five men accused of involvement in a £250m Imperial Consolidated investment fraud have had their court case adjourned until the autumn.

The charges against the five follow an investigation by the Serious Fraud Office and Lincolnshire police's Financial Intelligence Unit. The men are all former directors of companies in the finance group.

Imperial vigorously marketed investment opportunities to people all over the world and claimed to place a large proportion of the invested funds in its own UK-based consumer credit and commercial loans businesses.

Three of the men are: former Imperial chief executive Lincoln Fraser, 36, of Brookenby, Lincolnshire; William Godley, 58, of Almancil, Portugal; and former managing director Jared Brook, 37, who lives in Manchester. The other two are former executives: Nicholas Fraser, 33, of Kirton Lindsey, Lincolnshire; and Robert Raven, 46, of Usk, Gwent. They are accused of conspiracy to defraud investors between January 1998 and June 2002.

The men were all excused attendance at a pre-trial hearing at Lincoln Crown Court earlier this month.

Extending their bail, Judge John Milmo QC adjourned the case for a further hearing, which will be held at Leicester Crown Court in October.

As conditions of their bail, the men have to reside at their family addresses and report to a local police station. They have been required to surrender their passports and provide a surety of £100,000 each.

All the defendants except Mr Raven, however, are currently being held on remand until their financial bail conditions have been met.